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Montrose Environmental Group Snaps up Vista Analytical Laboratory

Environmental services company Montrose Environmental Group (MEG) has announced the acquisition of Vista Analytical Laboratory. Transaction terms have not been disclosed.

Vista provides testing and analysis of polyfluoroalkyl substances (PFAS), dioxins, and other organic pollutants. With this acquisition, Montrose enhances its position in testing and ultra-trace analysis of these pollutants.

Vista will be integrated into Montrose’s Measurement and Analysis Segment and will function as part of its subsidiary, Enthalpy Analytical.

Montrose CEO Vijay Manthripragada said, “Vista strengthens our ability to provide clients with an end-to-end environmental solution, from advisory services and testing to engineering and remediation, particularly given our clients’ focus on PFAS.” (See Montrose Environmental stock chart on TipRanks)

Vista has 21 state accreditations across the U.S., along with certification from the California Environmental Laboratory Accreditation Program for performing PFAS analysis on all 31 PFAS compounds monitored in California.

Last month, Needham analyst James Ricchiuti reiterated a Buy rating on the stock and increased the price target to $62 (24.1% upside potential) from $58.

Ricchiuti noted Montrose as a unique growth story in the environmental services industry, and after a 133% year-on-year Q1 growth in revenue, believes the company has had a robust beginning to 2021.

Based on 2 Buys and 2 Holds, consensus on the street is Moderate Buy. The MEG average analyst price target of $57.25 implies 14.6% upside potential. Shares have gained 49% so far this year.

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