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Tetra Tech: Expansion into Canada
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Tetra Tech, Inc. announced that it has acquired Wardrop Engineering, Inc. (Wardrop), a Canadian firm that specializes in resource management, energy, and infrastructure design. Wardrop has about 1,200 employees globally and had revenue of approximately U.S. $120 million in fiscal 2008. The acquisition expands Tetra Tech’s worldwide presence, adding 13 offices in Canada and offices in the United Kingdom and India. Wardrop will join Tetra Tech’s Environmental Consulting Services segment. The terms of the transaction were not disclosed.
“Wardrop represents the next step in our strategy of low risk international expansion, and provides a platform for additional international growth,” said Dan Batrack, Tetra Tech’s Chairman and CEO. “Wardrop adds to our team a complementary business culture, significant international presence, and a demonstrated track record of performance. This combination has enhanced our collective natural resource management capabilities, and has effectively doubled our capabilities in nuclear energy and electrical transmission. Together with more than 10,000 employees globally, we are now better positioned to serve multinational clients. This geographic expansion into Canada also opens a new growth market for Tetra Tech’s water capabilities. We welcome all of the employees of Wardrop.”
“Tetra Tech is the partner that we’ve been looking for,” said Shayne Smith, CEO of Wardrop. “Tetra Tech will provide broad opportunities for our people and help us to better serve our customers at every stage of the project life cycle. With access to Tetra Tech’s construction management and self-performance capabilities, we can now provide full, turn-key solutions. This transaction is the largest in our industry between U.S. and Canadian firms, and it underscores how North American firms can work together to create a global execution platform for high-end services.”
About Wardrop (www.wardrop.com)
Wardrop is a multi-disciplined consulting and engineering firm that provides innovative solutions for the natural resource management, energy, and infrastructure markets globally. Wardrop currently has 1,200 employees who work collaboratively throughout its North American and overseas operations. Wardrop has been named one of Canada’s Top 100 Employers by Macleans magazine eight times.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services addressing the resource management and infrastructure markets. The Company supports government and commercial clients by providing innovative solutions focused on water, the environment and energy. With more than 10,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.
Contact:
Tetra Tech, Inc.
Jorge Casado, Investor Relations
626-470-2844
Source: Tetra Tech, Inc.
Tetra Tech, Inc. announced that it has acquired Wardrop Engineering, Inc. (Wardrop), a Canadian firm that specializes in resource management, energy, and infrastructure design. Wardrop has about 1,200 employees globally and had revenue of approximately U.S. $120 million in fiscal 2008. The acquisition expands Tetra Tech’s worldwide presence, adding 13 offices in Canada and offices in the United Kingdom and India. Wardrop will join Tetra Tech’s Environmental Consulting Services segment. The terms of the transaction were not disclosed.
“Wardrop represents the next step in our strategy of low risk international expansion, and provides a platform for additional international growth,” said Dan Batrack, Tetra Tech’s Chairman and CEO. “Wardrop adds to our team a complementary business culture, significant international presence, and a demonstrated track record of performance. This combination has enhanced our collective natural resource management capabilities, and has effectively doubled our capabilities in nuclear energy and electrical transmission. Together with more than 10,000 employees globally, we are now better positioned to serve multinational clients. This geographic expansion into Canada also opens a new growth market for Tetra Tech’s water capabilities. We welcome all of the employees of Wardrop.”
“Tetra Tech is the partner that we’ve been looking for,” said Shayne Smith, CEO of Wardrop. “Tetra Tech will provide broad opportunities for our people and help us to better serve our customers at every stage of the project life cycle. With access to Tetra Tech’s construction management and self-performance capabilities, we can now provide full, turn-key solutions. This transaction is the largest in our industry between U.S. and Canadian firms, and it underscores how North American firms can work together to create a global execution platform for high-end services.”
About Wardrop (www.wardrop.com)
Wardrop is a multi-disciplined consulting and engineering firm that provides innovative solutions for the natural resource management, energy, and infrastructure markets globally. Wardrop currently has 1,200 employees who work collaboratively throughout its North American and overseas operations. Wardrop has been named one of Canada’s Top 100 Employers by Macleans magazine eight times.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction and technical services addressing the resource management and infrastructure markets. The Company supports government and commercial clients by providing innovative solutions focused on water, the environment and energy. With more than 10,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions ("Future Factors"), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.
Contact:
Tetra Tech, Inc.
Jorge Casado, Investor Relations
626-470-2844
Source: Tetra Tech, Inc.