Lawrence Stavitski's questions to Montrose Environmental Group Inc (MEG) leadership • Q2 2025
Question
Lawrence Stavitski, on behalf of Tim Moore from Clear Street, asked if M&A valuations have become more attractive and questioned if there have been any notable changes in state-level PFAS activity following recent EPA developments.
Answer
President & CEO Vijay Manthripragada clarified that Montrose's acquisition multiples tend to be stable as they are typically relationship-driven deals with smaller firms, making them less susceptible to broad market swings. For larger assets, he noted some valuation normalization, but seller expectations remain high. On PFAS, he stated that the EPA's clearer stance has helped advance projects, but there have been no major shifts in state-level regulations that have significantly impacted the business recently.