Montrose Environmental Group, Inc. (“Montrose” or “the Company”) (NYSE: MEG), a high-growth global environmental solutions company, today announced the acquisition of Paragon Soil & Environmental Consulting, Inc., a leading environmental consulting firm in Canada. Paragon’s senior leadership team, including President Lee Waterman, will join Montrose’s Consulting and Engineering services within the Company’s Remediation and Reuse segment. Terms of the transaction were not disclosed.

Paragon Soil & Environmental Consulting is a consulting firm that provides services for clients in the oil sands, pipeline, mining and power sectors. Headquartered in Edmonton, Alberta, Paragon’s work spans across western Canada, further bolstering Montrose’s current presence in the region while adding additional environmental expertise in select soil and reclamation services, in particular.

The acquisition of Paragon also includes Paragon’s active limited partnership, Paragon Infinity. The limited partnership is operated in conjunction with Infinity Métis Corp., a wholly owned Indigenous corporation with the McMurray Métis Local 1935 community in the Wood Buffalo region in northeast Alberta.

“Lee and his team provide an expansion of our current environmental consulting and engineering services in Canada, while strengthening our support of clients in the energy and energy transport sectors,” said Vijay Manthripragada, President and Chief Executive Officer of Montrose Environmental Group. “Paragon’s partnership with Infinity Métis Corp. is aligned with our commitment to Indigenous relations in the communities where we live and work. We look forward to future involvement with projects in Alberta that provide a material benefit for the local Indigenous community.”

Paragon Soil & Environmental Consulting’s President Lee Waterman added: “Preserving and protecting natural resources across western Canada by balancing responsible land stewardship with resource utilization is paramount for the Paragon team. We are excited to partner with Montrose to expand our capabilities and resources to serve clients with services rooted in science, stewardship and safety. We appreciate the strong technical reputation of the Montrose team in Canada and are thrilled to formally join the team.”

F&M Management Ltd. acted as lead M&A advisor to Paragon. Birdsell Grant LLP acted as legal advisor to Paragon.

About Montrose

Montrose is a leading environmental solutions company focused on supporting commercial and government organizations as they deal with the challenges of today, and prepare for what’s coming tomorrow. With ~3200 employees across 100+ locations worldwide, Montrose combines deep local knowledge with an integrated approach to design, engineering, and operations, enabling Montrose to respond effectively and efficiently to the unique requirements of each project. From comprehensive air measurement and laboratory services to regulatory compliance, emergency response, permitting, engineering, and remediation, Montrose delivers innovative and practical solutions that keep its clients on top of their immediate needs – and well ahead of the strategic curve. For more information, visit www.montrose-env.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by the use of words such as "intend," "expect", and "may", and other similar expressions that predict or indicate future events or that are not statements of historical matters. Forward-looking statements are based on current information available at the time the statements are made and on management’s reasonable belief or expectations with respect to future events, and are subject to risks and uncertainties, many of which are beyond the Company’s control, that could cause actual performance or results to differ materially from the belief or expectations expressed in or suggested by the forward-looking statements. Additional factors or events that could cause actual results to differ may also emerge from time to time, and it is not possible for the Company to predict all of them. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update any forward-looking statement to reflect future events, developments or otherwise, except as may be required by applicable law. Investors are referred to the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement.

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