Tetra Tech (TTEK) Completes Three Acquisitions with Combined Sales of $85M
Tetra Tech, Inc. (NASDAQ: TTEK) announced today that it has acquired three companies that expand its geographic coverage and technical services. Tesoro Corporation is a construction management firm that works primarily for the U.S. Department of Defense on Base Realignment and Closure 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.
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