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Monday, July 15, 2024

Montrose Environmental Acquires GreenPath Energy To Strengthen Fugitive Emissions Solutions – Montrose Environmental Gr (NYSE:MEG)

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Montrose Environmental Group Inc MEG has acquired GreenPath Energy Ltd, an optical gas imaging and fugitive emissions management services firm in Canada.

  • The firm specializes in working with oil and gas companies, helping them make the transition to a cleaner energy future.
  • GreenPath’s leadership, including President Joshua Anhalt, will join Montrose and be integrated into the company’s Measurement and Analysis Segment.
  • Terms of the transaction were not disclosed.
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  • “We’re thrilled to join with GreenPath, which will help us to both scale our technical and operational capabilities for multinational corporations and to better serve them across the entirety of their North American portfolio,” said Senior Vice President of Leak Detection and Repair, North America, Terence Trefiak.
  • Montrose held $89.8 million in cash and equivalents as of December 31, 2022.

Price Action: MEG shares were down 0.98% at $30.36 at the time of publication on Monday.

Now Read: Debt Ceiling Crisis: Paul Krugman Says ‘Even Those Who Don’t Care If It Burns Don’t Want Their Fingerprints On The Torch’

 

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