Environmental services firm Montrose Environmental sets terms for $160 million IPO
Montrose Environmental Group, which provides environmental assessment, management, and remediation services, announced terms for its IPO on Tuesday.
The Irvine, CA-based company plans to raise $160 million by offering 10 million shares at a price range of $15 to $17. At the midpoint of the proposed range, Montrose Environmental Group would command a fully diluted market value of $374 million.
The company provides a diverse range of environmental services to private and public sector clients across the life cycle of their needs. It services complex, recurring, and often non-discretionary environmental needs of its clients across three business segments: Assessment, Permitting and Response, Measurement and Analysis, and Remediation and Reuse.
Montrose Environmental Group was founded in 2012 and booked $244 million in revenue for the 12 months ended March 31, 2020. It plans to list on the NYSE under the symbol MEG. BofA Securities, William Blair, BNP Paribas, Capital One Securities, and Stifel are the joint bookrunners on the deal. It is expected to price during the week of July 20, 2020.
The article Environmental services firm Montrose Environmental sets terms for $160 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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