Montrose Environmental Group has acquired Arkansas-based CTEH, a scientific consulting firm. No financial terms were disclosed. Montrose teamed up with Oaktree Capital to finance the deal. BofA Securities, Inc. and Gibson, Dunn & Crutcher LLP advised Montrose while Stephens Inc. and Friday, Eldredge & Clark, LLP advised CTEH.
IRVINE, Calif.–(BUSINESS WIRE)–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.
CTEH is a management, technology, and science-based consulting firm providing a wide-range of response services including environmental data collection and management, GIS, safety, incident management, industrial hygiene, disaster recovery, toxicology and human health consulting for the public and private sectors. For more information, visit cteh.com.
About Montrose Environmental Group, Inc.
The Future of Environmental Solutions: dealing with the logistics and implications of environmental issues is vital. Typically, however, it’s also complicated, time-consuming, and expensive. At Montrose, we know there’s a better way. Employing 1,400 employees in over 60 locations, our innovative business model, focus on environmental solutions, and integrated approach to design, engineering, and operations can put you well ahead of the curve by applying the latest technologies in practical ways to solve difficult environmental challenges today – and prepare for what’s coming tomorrow. From lab services to stack testing to regulatory compliance, we’re helping clients blaze new trails. For more information, visit montrose-env.com.
Oaktree is a leader among global investment managers specializing in alternative investments, with $125 billion in assets under management as of December 31, 2019. Oaktree’s Power Opportunities Group invests in profitable, growing companies with innovative products and services used in the energy and power industries. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 950 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at oaktreecapital.com.