Press release from Business Wire
Tetra Tech Acquires Canadian Consulting and Engineering Firm BPR
Tuesday, October 05, 2010
PASADENA, Calif. (Business Wire) -- Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has acquired BPR, a scientific and engineering services firm with more than 1,600 employees principally based in Quebec. BPR provides multidisciplinary consulting and engineering support for water, energy, industrial plants, buildings, and infrastructure projects. BPR generated approximately US$170 million in revenue over the past 12 months, and is currently expected to contribute approximately 3 to 5 cents to fiscal year 2011 diluted EPS. The terms of the acquisition were not disclosed.
“We welcome all of the employees of BPR to Tetra Tech,” said Dan Batrack, Tetra Tech's Chairman and CEO. “Like Tetra Tech, BPR leads with science and focuses on complex water-related projects. With the addition of BPR in eastern Canada, Tetra Tech now offers its Canadian clients complete coast to coast coverage. BPR has no geographic overlap with existing operations.”
This transaction is Tetra Tech's third major acquisition in Canada, following the acquisition of EBA Engineering Consultants in August 2010 and Wardrop Engineering in January 2009. Tetra Tech now has about 3,500 employees working in Canada, and approximately 25% of the Company's fiscal year 2011 net revenue is expected to be generated from international operations.
Concurrently, Tetra Tech has renamed its former Environmental Consulting Services segment the Engineering and Consulting Services segment. BPR will join this segment, which focuses on front-end services.
About BPR (www.bpr.ca)
Established almost 50 years ago, BPR is among the largest engineering firms in Quebec and Canada, providing a full range of engineering services and project management services to industrial and commercial businesses, major institutions, and municipalities. BPR has five major specialties: water, buildings, infrastructure, energy, and industrial services.
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 12,000 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.