Tetra Tech Completes Acquisition of Global Professional Services Firm RPS Group

Rhea-AI Summary

Tetra Tech, Inc. (NASDAQ: TTEK) has successfully completed its acquisition of RPS Group through a UK court-approved scheme. The acquisition enhances Tetra Tech's capabilities in consulting and engineering across energy transformation, water, program management, and data analytics. With RPS's 5,000 employees now part of Tetra Tech, the company aims to reinforce its leadership in sustainable infrastructure and renewable energy. Trading of RPS Group shares has been suspended on the London Stock Exchange as the deal is finalized, allowing Tetra Tech to offer expanded professional opportunities within the combined teams.

Positive

• Successful acquisition of RPS Group boosts Tetra Tech's market position in water and sustainable infrastructure.
• Integration of RPS's 5,000 employees enhances consulting and engineering capabilities across various sectors.
• Increased service offerings in energy transformation and data analytics following the merger.

Negative

• None.

PASADENA, Calif.--(BUSINESS WIRE)-- Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today its offer to acquire all of the outstanding shares of RPS Group through a United Kingdom (UK) court-approved scheme of arrangement has become effective and the transaction has closed. Trading in RPS Group shares on the London Stock Exchange has been suspended and the outstanding shares of RPS Group are now owned by Tetra Tech.

RPS Group employs 5,000 employees in the United Kingdom, Europe, Asia Pacific, and North America, delivering consulting and engineering solutions for complex projects across key service areas in energy transformation, water, program management, and data analytics. The acquisition will advance Tetra Tech’s market-leading positions in water, renewable energy, and sustainable infrastructure; enhanced by a combined suite of differentiated data analytics and digital technologies.

“We are very pleased to welcome RPS’s 5,000 employees to Tetra Tech,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of RPS aligns with our strategy to be the premier global high-end consulting and engineering firm focused on water, environment, and sustainable infrastructure; and allows us to offer our combined staff even greater professional opportunities.”

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 27,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science^® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com or follow us on LinkedIn, Twitter, and Facebook.

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 Form 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230123005667/en/

Jim Wu, Investor Relations

Charlie MacPherson, Media & Public Relations

(626) 470-2844

Source: Tetra Tech, Inc.

FAQ

What is the significance of Tetra Tech's acquisition of RPS Group?

The acquisition enhances Tetra Tech's capabilities in consulting and engineering, especially in sustainable infrastructure and renewable energy, positioning it as a leader in these sectors.

When did Tetra Tech acquire RPS Group?

The acquisition was completed recently, with shares of RPS Group suspended from trading on the London Stock Exchange.

How many employees does RPS Group have after the acquisition by Tetra Tech?

RPS Group has 5,000 employees, all of whom are now part of Tetra Tech.

What sectors will Tetra Tech strengthen after acquiring RPS Group?

Tetra Tech will strengthen its positions in water, renewable energy, and sustainable infrastructure following the acquisition.

What impact does the acquisition have on Tetra Tech's stock?

The acquisition is expected to positively affect Tetra Tech’s stock by enhancing its market share and service offerings.