TETRA Tech (TTI) to Acquire Greywolf Production Systems in $55.5M Deal

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TETRA Technologies, Inc. (TETRA or the Company) (NYSE: TTI) today announced that it has signed a definitive agreement to acquire substantially all of the assets and business of Greywolf Production Systems (Greywolf) for $55.5 million in cash. This acquisition is expected to close on or about July 31, 2012, subject to the satisfaction of customary closing conditions.

Greywolf is a well testing and flow back company headquartered near Calgary, Alberta, with Canadian operational centers in Crossfield and Grande Prairie, Alberta, and U.S. operational centers in Williston, North Dakota, and Shoshoni, Wyoming. Established in 2005, Greywolf has become one of the leading flow back testing companies in Canada, and is a leading provider of these services in the Williston basin, including the Bakken formation.

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