Montrose Environmental Group Acquires GreenPath Energy Ltd. of Canada
08 May 2023 - 10:00PM
Business Wire
- Expands Company’s leak detection and optical
gas imaging for multinational corporations needing environmental
solutions across entirety of N.A. portfolio
Montrose Environmental Group, Inc. (“Montrose” or the “Company”)
(NYSE: MEG) today announced the acquisition of GreenPath Energy
Ltd. (“GreenPath”), a leading optical gas imaging and fugitive
emissions management services firm in Canada. GreenPath’s
leadership, including President Joshua Anhalt, will join Montrose
and be integrated into the Company’s Measurement and Analysis
Segment. Terms of the transaction were not disclosed.
In Canada, GreenPath is a leader in methane emission detection,
measurement, reduction, and elimination solutions and services. The
firm specializes in working with oil and gas companies, helping
them make the transition to a cleaner energy future. Founded in
2007 in Calgary, Alberta, GreenPath’s expertise around fugitive
emissions has created exceptional client loyalty, allowing the firm
to expand its support for companies globally outside its home
market of Canada.
“We’re thrilled to join with GreenPath, which will help us to
both scale our technical and operational capabilities for
multinational corporations and to better serve them across the
entirety of their North American portfolio,” said Terence Trefiak,
Senior Vice President of Leak Detection and Repair, North America,
for Montrose. “For energy producers, it is often hard to understand
the problem of fugitive emissions and where to direct their
resources. Working together, we will be able to better track,
manage, eliminate and reduce fugitive emissions, which supports
clients with regulatory compliance, ESG and moving toward a low
carbon economy. We welcome our new colleagues and are eager to
begin supporting our clients more broadly.”
“We’re excited to join with the talented team at Montrose,” said
Joshua Anhalt, President of GreenPath Energy Ltd. “Montrose and
GreenPath have exceptional reputations and complementary skillsets,
both wanting to partner with clients in moving fugitive and vented
emissions management beyond regulatory compliance. We look forward
to joining a larger platform to fulfill our mission of building a
cleaner, more efficient industry.”
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 nearly 3,000 employees across more than 80 locations
around the world, Montrose combines deep local knowledge with an
integrated approach to design, engineering, and operations,
enabling the Company 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/20230508005262/en/
Montrose Investor Relations: Rodny Nacier (949) 988-3383
ir@montrose-env.com Media Relations: Doug Donsky (646) 677-1844
Montrose@icrinc.com
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