Acquisition of Arkansas-based firm positions Montrose as global leader in environmental solutions
Montrose Environmental Group, Inc. (“Montrose”) has acquired CTEH®, an Arkansas-based scientific consulting firm that specializes in emergency preparedness, response and recovery. With CTEH, Montrose is now positioned as a global leader in the future of environmental solutions. Terms of the transaction were not disclosed.
“For nearly 25 years, CTEH has built a reputation for providing the reliable science, timely information and advice needed to help safeguard workers, communities and the environment,” said Phil Goad, Ph.D., co-founder and CEO of CTEH. “A Montrose partnership is an exciting evolution in our company’s future, which will allow us to further expand our team of internationally-recognized experts to offer an unprecedented breadth and scope of services.”
Since 1997, CTEH’s scientific experts have combined their expertise, state-of-the-art technology and conclusive data to resolve complex health, safety, environmental, toxicological and management challenges for broad range of industries, including chemical, petroleum, manufacturing, mining, transportation, government, legal, power and utilities. Based in North Little Rock, Arkansas, CTEH currently has more than 170 employees in Dallas-Fort Worth, Texas; Denver, Colorado; Houston, Texas; Indianapolis, Indiana; Jackson, Mississippi; New Orleans, Louisiana; Portland, Oregon; San Antonio, Texas; Carlsbad, California; Saratoga Springs, New York; and Seattle, Washington.
“In recent years, the devastating and increasing impacts of natural disasters and aging infrastructure have elevated the demand for experienced, qualified responders,” said Jose Revuelta, chief strategy officer of Montrose. “CTEH employs the best and brightest scientific minds, with decades of field-tested experience, who will help Montrose more effectively resolve complex health, safety, environmental, toxicological and management challenges for our clients.”
Montrose partnered with funds managed by Oaktree Capital Management L.P. (“Oaktree”) to finance the acquisition and was advised by BofA Securities, Inc. and Gibson, Dunn & Crutcher LLP. CTEH was advised on the transaction by Stephens Inc. and Friday, Eldredge & Clark, LLP.
Source: Company Press Release