Montrose Environmental Group Inc. of North Little Rock (NYSE: MEG) announced the acquisition of Origins Laboratory LLC of Denver, Colorado, a firm that specializes in testing water, soil and air for contaminants.
Origins, including owners Noelle and David Mathis, will be integrated into Montrose’s measurement and analysis segment and operate as part of Enthalpy Analytical LLC, a subsidiary of Montrose.
Terms of the transaction were not disclosed.
Origins, founded in 2006, has oil and gas clients in the Rocky Mountain region. In addition to providing traditional measurement services, Origins offers advanced services for emerging market demands, such as specialized air analysis for volatile organic compounds and measurement of per- and polyfluoroalkyl substances, known as “forever chemicals.”
The firm offers quick turnaround times that include the capability for same-day results, allowing clients to quickly launch remediation efforts, reduce time on-site and improve overall efficiency, Montrose said in a news release.
“Origins represents strategic growth within our laboratory services business line, further expanding our presence and existing service offerings in the Rocky Mountain states to meet growing customer needs in this important region,” Vijay Manthripragada, president and CEO of Montrose, said in the release. “Origins shares our commitment to responsive, client-focused service, supported by timely and defensible analytical data. We extend our warmest welcome to David, Noelle and the entire Origins team.”
Origins is the sixth company Montrose has purchased this year under its longstanding strategy of growth by acquisition. The deal is among more than 70 acquisitions over the past decade that have grown Montrose to a company of about 3,200 employees with 100-plus offices around the world.
Recent acquisitions include air permitting and compliance consultancy Spirit Environmental LLC of Houston and Canadian consulting firm Paragon Soil & Environmental Consulting Inc.
Montrose reported record quarterly revenue of $173.3 million in the second quarter, but the company posted a loss of $102 million due to higher interest and income-tax expenses.
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