Tetra Tech Expands with Cash Purchase of U.K. Firm

Published : Monday, May 20, 2019 | 7:05 PM

Pasadena-based environmental consultant Tetra Tech Inc.,has made an all-cash offer to acquire WYG PLC, a United Kingdom-based professional services firm.

Tetra tech provides high-end consulting and engineering services. WYG PLC operates from more than 30 locations across Europe, Africa and Asia.

Tetra Tech purchased all outstanding shares of the company’s stock, for 55 pence per share, according to a joint announcement by the two companies.

The offer has been unanimously recommended by the WYG board, the announcement said.

The statement added the acquisition expands Tetra Tech’s geographic presence and positions the company as a leading global consulting, engineering and program management firm focused on water, environment and infrastructure.

The acquisition also enhances Tetra Tech’s business for international development, supporting both the European Union and the UK’s Department for International Development, according to the statement.

“WYG’s expertise in infrastructure and program management, as well as water and environmental services, enables us to deliver innovative solutions to support the UK’s infrastructure needs,” said Dan Batrack, Tetra Tech Chairman and chief executive officer.

WYG employs 1,600 staff primarily in the UK and Europe.

Jeremy Beeton, WYG Chairman, said becoming part of Tetra Tech brings the benefits of scale and access to broader expertise across highly complementary geographies and client relationships.

“It also brings the operational infrastructure and financial strength to support WYG’s long-term ambitions, whilst we provide Tetra Tech with a strong platform for growth in the UK and Europe,” Beeton said.

The joint statement said WYG’s Board of Directors has unanimously recommended that shareholders vote in favor of the scheme. In addition, more than 70 percent of the share capital have indicated their support in favor of the scheme and transaction with Tetra Tech.

In the acquisition, Tetra Tech’s financial advisor is Perella Weinberg Partners and its legal advisor is Hogan Lovells International LLP.

WYG’s financial advisor is N+1 Singer and its legal advisor is DLA Piper.To learn more WYG, visit www.wyg.com and www.tetratech.com.

 

 

 

 

 

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