Montrose Environmental Group Acquires Canadian Environmental Consultancy Specializing in Soils, Vegetation and Wetlands Development and Reclamation in Western Canada
05 Junho 2024 - 8:00AM
Business Wire
Montrose Environmental Group, Inc. (“Montrose” or “the Company”)
(NYSE: MEG), a high-growth global environmental solutions company,
today announced the acquisition of Paragon Soil & Environmental
Consulting, Inc., a leading environmental consulting firm in
Canada. Paragon’s senior leadership team, including President Lee
Waterman, will join Montrose’s Consulting and Engineering services
within the Company’s Remediation and Reuse segment. Terms of the
transaction were not disclosed.
Paragon Soil & Environmental Consulting is a consulting firm
that provides services for clients in the oil sands, pipeline,
mining and power sectors. Headquartered in Edmonton, Alberta,
Paragon’s work spans across western Canada, further bolstering
Montrose’s current presence in the region while adding additional
environmental expertise in select soil and reclamation services, in
particular.
The acquisition of Paragon also includes Paragon’s active
limited partnership, Paragon Infinity. The limited partnership is
operated in conjunction with Infinity Métis Corp., a wholly owned
Indigenous corporation with the McMurray Métis Local 1935 community
in the Wood Buffalo region in northeast Alberta.
“Lee and his team provide an expansion of our current
environmental consulting and engineering services in Canada, while
strengthening our support of clients in the energy and energy
transport sectors,” said Vijay Manthripragada, President and Chief
Executive Officer of Montrose Environmental Group. “Paragon’s
partnership with Infinity Métis Corp. is aligned with our
commitment to Indigenous relations in the communities where we live
and work. We look forward to future involvement with projects in
Alberta that provide a material benefit for the local Indigenous
community.”
Paragon Soil & Environmental Consulting’s President Lee
Waterman added: “Preserving and protecting natural resources across
western Canada by balancing responsible land stewardship with
resource utilization is paramount for the Paragon team. We are
excited to partner with Montrose to expand our capabilities and
resources to serve clients with services rooted in science,
stewardship and safety. We appreciate the strong technical
reputation of the Montrose team in Canada and are thrilled to
formally join the team.”
F&M Management Ltd. acted as lead M&A advisor to
Paragon. Birdsell Grant LLP acted as legal advisor to Paragon.
About Montrose
Montrose is a leading environmental solutions company focused on
supporting commercial and government organizations as they deal
with the challenges of today, and prepare for what’s coming
tomorrow. With ~3200 employees across 100+ locations worldwide,
Montrose combines deep local knowledge with an integrated approach
to design, engineering, and operations, enabling Montrose to
respond effectively and efficiently to the unique requirements of
each project. From comprehensive air measurement and laboratory
services to regulatory compliance, emergency response, permitting,
engineering, and remediation, Montrose delivers innovative and
practical solutions that keep its clients on top of their immediate
needs – and well ahead of the strategic curve. For more
information, visit www.montrose-env.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements may be identified by the use of
words such as "intend," "expect", and "may", and other similar
expressions that predict or indicate future events or that are not
statements of historical matters. Forward-looking statements are
based on current information available at the time the statements
are made and on management’s reasonable belief or expectations with
respect to future events, and are subject to risks and
uncertainties, many of which are beyond the Company’s control, that
could cause actual performance or results to differ materially from
the belief or expectations expressed in or suggested by the
forward-looking statements. Additional factors or events that could
cause actual results to differ may also emerge from time to time,
and it is not possible for the Company to predict all of them.
Forward-looking statements speak only as of the date on which they
are made, and the Company undertakes no obligation to update any
forward-looking statement to reflect future events, developments or
otherwise, except as may be required by applicable law. Investors
are referred to the Company’s filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for
the year ended December 31, 2023, for additional information
regarding the risks and uncertainties that may cause actual results
to differ materially from those expressed in any forward-looking
statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20240605923822/en/
Montrose Investor Relations: Rodny Nacier (949) 988-3383
ir@montrose-env.com
Media Relations: Sarah Kaiser (225) 955-1702
pr@montrose-env.com
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