Montrose Environmental upsizes credit facility to $400 million

By Marisa Wong

Los Angeles, Feb. 20 – Montrose Environmental Group, Inc. said it upsized its senior secured credit agreement to $400 million.

The additional $100 million of availability includes a $50 million increase in the revolving credit facility to $175 million and a $50 million increase to the term loan, according to a Tuesday press release.

The credit facility will be available for working capital needs, growth initiatives and general corporate purposes.

The interest rate and the term of the credit facility remain unchanged with a maturity date in April 2026.

The facility includes an accordion feature that allows the company to increase the size of the facility up to an aggregate amount of $550 million.

Bank of America, NA acted as administrative agent, and Capital One, JPMorgan Chase and BMO Bank acted as joint lead arrangers. U.S. Bank and Wells Fargo also participated in the amendment.

Montrose is an environmental testing services company based in Little Rock, Ark.

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