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Oaktree-backed environmental services firm Montrose Environmental prices IPO at $15 low end

July 23, 2020
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Montrose Environmental Group, which provides a suite of environmental impact services, raised $150 million by offering 10 million shares at $15, the low end of the range of $15 to $17. At pricing, the company commands a fully diluted market value of $523 million, which includes $175 million of convertible preferred equity.

The company's primary shareholder is Oaktree Capital Management.

Montrose Environmental Group plans to list on the NYSE under the symbol MEG. BofA Securities, William Blair, BNP Paribas, Capital One Securities, and Stifel acted as lead managers on the deal.