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Tetra Tech, Inc. (NASDAQ: TTEK) announced the acquisition of Piteau Associates, a leader in sustainable natural resource analytics based in Vancouver. This acquisition bolsters Tetra Tech's sustainable water management services, enhancing its capabilities in hydrologic modeling and geotechnics. Piteau, established in 1976, brings a knowledgeable team with advanced degrees and a strong commitment to quality solutions. The transaction terms remain undisclosed, but it is expected to boost Tetra Tech’s market reach and service offerings for commercial resource management clients.
Positive
Acquisition of Piteau Associates enhances Tetra Tech's expertise in sustainable water management.
Piteau's advanced analytics capabilities could lead to market expansion and increased service offerings.
Collaboration on multidisciplinary projects may create new growth opportunities.
Negative
None.
PASADENA, Calif.--(BUSINESS WIRE)--
Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, announced today that it has further expanded its sustainable water management practice with the addition of Piteau Associates, based in Vancouver, British Columbia.
Established in 1976 by Dr. Douglas R. Piteau, the firm is a global leader in sustainable natural resource analytics including hydrologic numerical modeling and dewatering system design. Their staff pioneered the development of discrete element numerical models to simulate rock mass behavior for slope design and hydraulic integrity. With the majority of its staff having advanced degrees, the Piteau team solves the natural resource industry’s most complex geotechnical and water-related challenges and has been an important contributor to key industry textbooks, scientific publications, and best practice guidelines involving applied rock mechanics, hydrogeology, hydrology, and geochemistry. Recognized global experts on the Piteau Associates team serve on numerous technical review boards and audit and assurance teams on projects around the world.
“Tetra Tech has a long history of Leading with Science® through the application of advanced analytics to water management,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of Piteau Associates further expands our expertise in the specialized analysis of sustainable water management and geotechnics for our commercial resource management clients.”
Mark Hawley, Piteau Associates Chairman and CEO, said, “We are excited to join the Tetra Tech family, and to add our expertise to Tetra Tech’s comprehensive scope of engineering and consulting services. We share Tetra Tech’s strong commitment to providing high quality, sustainable and practical solutions based on sound engineering, and focus on projects and developing long-term client relationships. By joining Tetra Tech, we can collaborate on highly technical multi-disciplinary projects, further our global growth strategy, and provide new opportunities for our team and a broader scope of services to our clients.”
The terms of the acquisition were not disclosed. Piteau Associates is joining Tetra Tech’s Commercial/International Services Group.
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 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.
With offices in Canada, the United States, Chile, Peru, the United Kingdom, and South Africa, Piteau Associates provides practical, innovative, cost-effective and environmentally responsible solutions that assist clients in meeting their engineering challenges in mineral and water resource development projects worldwide.
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.
