Montrose Environmental Group acquires Matrix Solutions Inc.
The consolidation brings forth a company that can work seamlessly across borders for large multinational clients.
Montrose Environmental Group, Inc. (“Montrose” or the “Company”) (NYSE: MEG) announced on May 3 it has entered into an arrangement agreement to acquire all of the issued and outstanding shares of Matrix Solutions Inc. (“Matrix”), one of Canada’s leading environmental and engineering consulting companies. The transaction, which is subject to, among other things, approval of Matrix shareholders and the Court of King’s Bench of Alberta, is expected to close in the second quarter of 2023. Terms of the transaction were not disclosed.
Founded in 1984 and headquartered in Calgary, Alberta, Matrix is employee-owned and broadly held with 570 employees, having grown into one of Canada’s leading pure-play providers of environmental solutions. The firm advises and supports more than 1100 private and public sector clients from its three main service lines, which include Contaminated Site Assessment, Remediation and Reclamation; Environmental Sciences and Regulatory Planning; and Water Resources Engineering and Management. From its 19 office locations, Matrix serves clients throughout the Canadian provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.