
| Tetra Tech Expands into Canada Through Wardrop Acquisition |
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PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ:TTEK) announced today 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.” |