LITTLE ROCK, Ark. & ARVADA, Colo. - Montrose Environmental Group, Inc. (NYSE: MEG), a company providing environmental solutions globally, has announced the acquisition of Two Dot Consulting, LLC, a consultancy known for its regulatory services in the energy sector. The terms of the transaction have not been disclosed.
Two Dot Consulting, headquartered in Arvada, Colorado, specializes in environmental regulatory compliance and planning, serving primarily the renewable energy and oil and gas sectors in the Rocky Mountain region and beyond. The firm's team, which includes a range of environmental experts from wildlife biologists to environmental health and safety specialists, will join Montrose's Consulting and Engineering division as part of the Remediation and Reuse segment.
Vijay Manthripragada, President and CEO of Montrose, expressed that the addition of Two Dot's expertise will enhance the company's service offerings in the region. He noted the alignment of the two companies' cultures and missions, emphasizing the shared commitment to environmental stewardship.
Todd Spivey, Founder and CEO of Two Dot Consulting, remarked on the company's growth driven by a respect for the environment and their clientele. He expressed enthusiasm for joining forces with Montrose, highlighting the partnership's potential to address complex regulatory challenges.
Montrose, with approximately 3,100 employees worldwide, offers a variety of environmental services, including air measurement, laboratory services, emergency response, and remediation.
FMI Capital Advisors served as the financial advisor to Two Dot Consulting, with Holland & Hart LLP providing legal counsel.
This news is based on a press release statement.
InvestingPro Insights
As Montrose Environmental Group, Inc. (NYSE: MEG) expands its environmental solutions through the strategic acquisition of Two Dot Consulting, investors and stakeholders may find the following insights from InvestingPro particularly relevant. The company's market capitalization stands at a solid $996.51 million, reflecting investor confidence in its business model and growth prospects. Despite not having turned a profit over the last twelve months, Montrose is trading at a high EBITDA valuation multiple, indicating that the market expects future profitability and growth.
InvestingPro Tips suggest that Montrose's net income is expected to grow this year, a positive signal for potential investors looking at the company's future earnings potential. Additionally, the company's liquid assets exceed short-term obligations, providing financial stability and the ability to meet its immediate financial commitments. This could be particularly reassuring as the company integrates Two Dot's operations and expertise into its existing business structure.
For those considering an investment in Montrose Environmental Group, it's worth noting that analysts have recently revised their earnings estimates downwards for the upcoming period, which could impact short-term stock performance. However, the company's stock price has shown a strong return over the last month, reflecting optimism in the market about its strategic moves and future profitability, as predicted by analysts.
Investors seeking a deeper dive into Montrose's financial health and future outlook can find additional InvestingPro Tips by visiting https://www.investing.com/pro/MEG. With a total of ten InvestingPro Tips available, there is ample information for an informed investment decision. Don't forget to use the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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