Montrose Environmental Buys Engineering & Technical Associates; Ups Annual Revenue Outlook

(RTTNews) - Montrose Environmental Group, Inc. (MEG), an environmental solutions company, on Tuesday announced the acquisition of Engineering & Technical Associates, Inc., a process safety management company.

Vijay Manthripragada, CEO of Montrose Environmental Group, said: "We believe they will be highly additive to Montrose's current Environmental, Health, Safety & Security advisory offerings."

Citing continued strong organic performance and the impact of recently closed acquisitions, MEG has revised up its annual adjusted EBITDA and revenue guidance.

Excluding items, for the full year, the Group now expects EBITDA of $95 million to $100 million against the previous outlook of $90 million to $95 million.

Revenue is now expected to be in the range of $690 to $740 million, up from the previous range of $675 to $725 million.

On average, seven analysts, polled by Thomson Reuters expect the company to record revenue of $695.74 million, for the year. Analysts' estimates typically exclude special items.