Tetra Tech Inc. (TTEK: 19.34 +0.43 +2.27%), a leading worldwide provider of consultancy engineering, program management, construction, and technical services, has entered into an agreement to acquire PA Consulting Group’s international development practice business based in the U.S.The companies did not provide any information on the terms of the deal.
Headquartered in London, PA Consulting generates approximately $35 million of annual revenue from its consultancy business in the U.S., providing services to energy and infrastructure sector.
Following the completion of the acquisition, expected in quarter ending September 2010, PA’s U.S. consultancy business will be merging with the Technical Support Services segment of Tetra Tech. The new business, through the addition of an expanded customer base and technical skills, is expected to substantially improve the energy management consulting business of Tetra Tech.
Tetra Tech maintains a strong balance sheet. The company completed three acquisitions in the third quarter of 2009 with annual revenues of approximately $25.0 million. It concluded another acquisition in early fourth quarter of 2009 with about $25.0 million of annual revenues.
The company continues to focus on the strategic acquisition of firms to enhance its service offerings and expand its geographic presence. However, an exceedingly slow economic recovery will continue to affect the performance of the company.
Headquartered in Pasadena, California, Tetra Tech Inc. provides environmental engineering and consultancy services to both government and corporate clients. The company provides about 50% of its management consultancy services to the U.S. Agency for International Development for its various projects worldwide in energy sector. Prime competitors of the company are Arcadis NV (“ARCAY.PK”),Shaw Group Inc. (SHAW: 34.36 +0.31 +0.91%) and URS Corporation (URS: 39.43 +0.10 +0.25%).
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