Montrose Environmental Group has 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. 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.

Allan Dicks, Chief Financial Officer, commented, “We are pleased to announce the expansion of our Credit Facility on what we believe are very favorable and consistent terms. Our revised lending agreement augments our capital resources, further improves our already strong liquidity position, and enhances our ability to drive growth through value enhancing opportunities. We are grateful for our long-standing relationship with Bank of America and all of our lender partners and we believe this revised agreement reinforces their confidence in our long-term growth strategy.”

The Credit Facility includes an accordion feature that allows Montrose, under certain circumstances, to increase the size of the Credit Facility up to an aggregate amount of $550 million.

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