Oaktree Capital Management LP has made an investment in Orange County, California-based Montrose Environment Group Inc, an environmental services company. No financial terms were disclosed.
IRVINE, Calif.–(BUSINESS WIRE)–Montrose Environmental Group, Inc. (“Montrose”), a leading environmental services company, announced today an investment made by funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Oaktree has partnered with Montrose to provide the company with capital and strategic support to expand its footprint as a leading provider of environmental services. Terms of the investment were not disclosed.
Brook Hinchman, Senior Vice President at Oaktree comments, “We are excited to partner with Montrose’s world-class management team. Oaktree’s investment will allow Montrose to accelerate its growth trajectory and expand its leadership position in the industry. The environmental testing and services industry is highly fragmented and Montrose is in an ideal position to consolidate the industry through a combination of organic growth and executing on their acquisition strategy.”
Vijay Manthripragada, Chief Executive Officer of Montrose comments, “We were very careful to select partners who are aligned with our mission, culture, and strategy, and we are delighted to have Oaktree join us as we continue to build a world-class environmental services company. The Oaktree team has lived up to its reputation for doing what it says and being additive, and I am looking forward to having them on our team. I believe their relationships and strong reputation will help us as we continue to build Montrose. Montrose has enjoyed tremendous success in its early years and as environmental services become increasingly important to our clients and our communities, the support of a leading partner like Oaktree should further fuel our success, our ability to serve our clients, and our ability to attract and retain the best talent.”
About Montrose Environmental Group, Inc.
Montrose Environmental Group, Inc. (“Montrose”) is an environmental services provider offering measurement and analytical services as well as environmental resiliency and sustainability solutions to clients across a wide array of sectors. Montrose’s qualified engineers, scientists, technicians, associates, and policy experts are proud of their collective expertise and the collaborative nature of our approach to helping clients. Montrose strives to optimize environmental resiliency in a way that effectively complements its clients’ decision-making and operations and efficiently fulfills their project requirements. Headquartered in Orange County, California, Montrose has over 50 offices across the country and over 1,100 employees nationwide. For more information about our company, please visit www.montrose-env.com.
Oaktree is a leader among global investment managers specializing in alternative investments, with $122 billion in assets under management as of June 30, 2018. 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 900 employees and offices in 18 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.