Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has acquired
three companies that expand its geographic coverage and technical
services. Tesoro Corporation (Tesoro) is a construction management firm
that works primarily for the U.S. Department of Defense (DoD) on Base
Realignment and Closure (BRAC) and military construction programs. Based
in Virginia Beach, Virginia, Tesoro has revenue of approximately $80
million per year.
"Tesoro holds over $500 million in contract capacity that will help
improve Tetra Tech’s positioning for certain DoD economic stimulus
projects,” said Dan Batrack, Tetra Tech’s Chairman and CEO. "We have a
long and successful teaming relationship with Tesoro, and we believe it
is the right time for this combination. We welcome all of the employees
of Tesoro.”
Tetra Tech also recently acquired and integrated two highly specialized
companies. Mussetter Engineering of Fort Collins, Colorado, provides
expertise in water resources, fluvial geomorphology, and environmental
hydraulics. ACI Engineering of Vancouver, British Columbia, provides
high voltage power engineering to support energy transmission. Together,
Mussetter Engineering and ACI Engineering have about $5 million in
annual revenue.
Tetra Tech did not disclose the terms of the acquisitions.
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.