Montrose Acquires Environmental Consulting Firm Horizon For Undisclosed Sum

Montrose Environmental Group Inc MEG acquires Horizon Water and Environment, LLC for undisclosed financial terms.
Oakland, California-based Horizon performs various environmental consulting services for state and local government organizations.
Horizon's leadership team, including founder and Managing Principal Kenneth Schwarz, will join Montrose's Planning & Ecosystem Consulting segment.
The addition of Horizon expands Montrose's water resource knowledge and ecosystem offering in California.
Montrose Environmental held cash and equivalents of $40.2 million as of June 30, 2021.
"Horizon is core to supporting Montrose's consulting presence and expansion on the West Coast and deepens our water resource knowledge and relationships with municipal and state agencies," said Jose Revuelta, Chief Strategy Officer of Montrose.
Price Action: MEG shares closed higher by 4.12% at $74.47 on Thursday.