Press release from Business Wire
Tetra Tech Acquires EBA Engineering Consultants
Monday, August 09, 2010
Tetra Tech Acquires EBA Engineering Consultants09:01 EDT Monday, August 09, 2010 PASADENA, Calif. (Business Wire) -- Tetra Tech, Inc. (NASDAQ:TTEK) announced today that it has acquired EBA Engineering Consultants, Ltd. (EBA), a privately held scientific and engineering services firm with more than 600 employees and 10 offices located in northwestern Canada. Headquartered in Edmonton, Alberta, EBA provides world-class natural science, engineering, and arctic engineering services to the mining, energy, and infrastructure sectors. EBA generated approximately US$100 million in revenue over the past 12 months. “EBA is located in the heart of North America's mining and oil and gas development activities,” said Dan Batrack, Tetra Tech's Chairman and CEO. “EBA strengthens our geographic presence in this economically important region, and adds new customers and complementary technical services.” EBA President Paul Ruffell said, “We are excited to be joining Tetra Tech, an engineering and natural science leader with a corporate culture that is closely aligned with EBA's values and goals. This transaction fulfills the next step in EBA's evolution, providing us with an excellent platform from which to offer enhanced career opportunities to our staff and more comprehensive, full-service solutions to our customers.” This transaction is Tetra Tech's second major acquisition in Canada, following the acquisition of Wardrop Engineering last year. Tetra Tech now has about 1,800 employees in Canada. This acquisition is expected to be GAAP-accretive in the first 12 months. EBA is joining Tetra Tech's Environmental Consulting Services business segment. EBA will continue to operate as a wholly owned subsidiary known as EBA, A Tetra Tech Company. The terms of the agreement were not disclosed. 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 approximately 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.