Montrose Environmental Group Acquires ETA and Announces Increase to 2024 Revenue and Consolidated Adjusted EBITDA Outlook

Montrose Environmental Group, Inc. (“Montrose”) (NYSE: MEG), a premier environmental solutions company, today announced the acquisition of Engineering & Technical Associates, Inc. (“ETA”), a leader in Process Safety Management (PSM). ETA will join Montrose’s Assessment, Permitting & Response segment.

“We have partnered with ETA on client projects for many years and are excited to formally bring them into the Montrose family. We believe they will be highly additive to Montrose’s current Environmental, Health, Safety & Security advisory offerings,” said Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group.

ETA Co-Founders Dan and Lisa Wilczynski commented: “Having previously worked with the Montrose team to solve complex client challenges, we knew that our cultures, client philosophies and focus on superior outcomes were fully aligned. As part of a larger team, we can learn from each other, grow faster and create an industry-leading PSM offering. We’re excited to get started.”

Montrose Environmental also today announced an increase to its 2024 Revenue and Consolidated Adjusted EBITDA¹ outlook. Given the Company’s continued strong organic performance, an improved 2024 outlook, and the impact of recently closed acquisitions, the Company is raising its full year 2024 Revenue and Consolidated Adjusted EBITDA¹ guidance. 2024 Revenue is now expected to be in the range of $690 million to $740 million, up from the previous range of $675 million to $725 million. 2024 Consolidated Adjusted EBITDA¹ is expected to be in the range of $95 million to $100 million, up from the previous range of $90 million to $95 million. Our Revenue and Consolidated Adjusted EBITDA¹ outlook does not include any benefit from future acquisitions.

Mr. Manthripragada continued, "The strong execution against our cross-selling initiatives and plans has resulted in an improved outlook for the remainder of 2024. I am incredibly proud of our colleagues for their teamwork, collaboration and client service which manifest in our financial performance and continued value creation.”

Niehaus Law acted as legal advisor to ETA.

¹ Consolidated Adjusted EBITDA is a non-GAAP measure. See “Non-GAAP Financial Information” for a discussion thereof, including how it is calculated and the reasons why we believe it provides useful information to investors, and additional information regarding forward-looking non-GAAP guidance.