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Montrose Environmental Group Inc. of Irvine, California, said Tuesday that it has acquired CTEH of North Little Rock, a scientific consulting firm specializing in emergency preparedness, response and recovery.
Financial terms of the deal were not disclosed. CTEH has more than 170 employees in 11 states.
“For nearly 25 years, CTEH has built a reputation for providing the reliable science, timely information and advice needed to help safeguard workers, communities and the environment,” Phil Goad, CTEH’s co-founder and CEO, said in a news release. “A Montrose partnership is an exciting evolution in our company’s future, which will allow us to further expand our team of internationally-recognized experts to offer an unprecedented breadth and scope of services.”
In a statement, Montrose said that with the acquisition of CTEH, it was now positioned as “a global leader in the future of environmental solutions.”
Montrose said it worked with funds managed by Oaktree Capital Management L.P. to finance the deal. CTEH was advised on the transaction by Stephens Inc. and Friday Eldredge & Clark LLP, both of Little Rock.
“In recent years, the devastating and increasing impacts of natural disasters and aging infrastructure have elevated the demand for experienced, qualified responders,” said Jose Revuelta, chief strategy officer of Montrose. “CTEH employs the best and brightest scientific minds, with decades of field-tested experience, who will help Montrose more effectively resolve complex health, safety, environmental, toxicological and management challenges for our clients.”
Privately held CTEH stands for the Center for Toxicology and Environmental Health. Founded in 1997, it got its start dealing with chemical spills from train derailments, but it “rapidly evolved” to include services such as risk assessment, crisis management and training, Goad told Arkansas Business in a 2017 interview.
In 2016, it started a global preparedness and crisis management team that handles large-scale disasters. It also started a subsidiary, CTEH Government Services, a disaster-recovery division that focuses on rehabilitating residential properties after floods. In 2017, it started ResilientRMSM, now called CTEHRM, a business entity that helps clients plan and prepare for offshore oil spills, natural disasters and human health events.
Montrose employs 1,400 people in more than 60 locations offering an array of environmental services.