Montrose Environmental Group Acquires GreenPath Energy Ltd. of Canada

By: Montrose Environmental Group, Inc. via Business Wire

May 08, 2023 at 08:00 AM EDT

- 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230508005262/en/

Contacts

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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