News

08/22/2019

Dickinson Williams advises on the sale of Air Water & Soil Laboratories

Dickinson Williams & Company served as the exclusive financial advisor to Air Water & Soil Laboratories, Inc. (“AWS”), a full-service environmental laboratory, in its sale to Montrose Environmental Group, Inc. (“Montrose”).

“Dickinson Williams truly enjoyed working with AWS and its owners, Carmela Tombes and Guy Becker, and we look forward to seeing the Company continue to grow and prosper under Montrose’s ownership,” said Harold Williams, Managing Director of Dickinson Williams & Co.

AWS’s founder, Carmela Tombes, stated, “We are delighted to join forces with Montrose as the company has a true vision of what environmental services can be, and Montrose is driven by customer service and good communication, the same things that have propelled AWS’s growth all these years.”

Tombes added, “Dickinson Williams’ professionalism, knowledge, and capabilities were critical to successfully completing the deal.  We were so pleased to have them on our team.”

Strategically this acquisition allows Montrose to expand its own fully accredited air, water, and soil environmental lab services to the East Coast through its wholly owned subsidiary, Enthalpy Analytical, LLC (“Enthalpy”).

“Since opening in 1994, AWS has provided stellar service and high quality, defensible data for compliance with federal, state, and local environmental regulations,” said Bryan Tyler, Senior Vice President at Enthalpy.  Tyler added, “Not only will this allow us to support our growing presence in the remediation space across the East Coast, it will also help us achieve faster turnaround times and provide complementary services to East Coast clients.”

Williams Mullen served as legal counsel to AWS on the transaction, and Cherry Bekaert served as AWS’s tax and accounting advisors.

 About Air Water & Soil Laboratories:

Since its founding in 1994, AWS has served the mid-Atlantic region with reliable data analysis of wastewater, groundwater, drinking water, soil, solids, and air (indoor air quality, vapor intrusion, landfill gas, and biogas) testing services. Based in Richmond, VA, the company has earned a reputation for quality work, quick turnaround, and superior customer service. AWS provides state-of-the-art instrumentation with built-in redundancy to ensure timely and reliable results.

About Montrose Environmental Group:

Montrose is a high-growth environmental services company with more than 50 locations and 1,200 employees across North America. Montrose supports government and commercial organizations with a diverse range of services, including comprehensive air measurement, laboratory services, regulatory compliance, permitting, engineering, and remediation. Working with Montrose, clients gain the personalized, collaborative attention inherent with a local presence, along with the peace of mind of having a service partner with national scale and a respected track record.

About Dickinson Williams & Company:

Dickinson Williams & Company is an independent investment banking firm led by industry veterans with over 80 years of combined investment banking, financing, and operating experience.  The firm provides objective, experience-based advisory services to lower middle market companies with enterprise values typically up to $150 million.  The firm provides sell-side, buy-side, private placement, recapitalization, and strategic advisory services to family and closely held businesses, corporations, and private equity groups, and has a broad cross-section of transaction and industry experience in the industrials, business services, distribution, healthcare, and consumer sectors.

John C. Dickinson
Managing Director
jdickinson@dickinsonwilliams.com
804.588.3412

James A. Gilmore
Managing Director
jgilmore@dickinsonwilliams.com
804.588.3414

Harold J. Williams III
Managing Director
hwilliams@dickinsonwilliams.com
804.588.3413

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