Tetra Tech Acquires American Environmental Group
Tetra Tech (NASDAQ: TTEK) announced today that it has acquired solid waste management specialist American Environmental Group, Ltd. (AEG) of Richfield, Ohio. AEG provides environmental, design, construction, and maintenance services to solid and hazardous waste, environmental, energy, utility, and other industrial clients. The company has more than 500 employees and approximately $95 million in annual revenue.
“Together with AEG, we can provide engineering-procurement-construction (EPC) solutions for industrial clients,” said Dan Batrack, Tetra Tech's Chairman and CEO. “These clients include landfill operators, as well as mining and power clients that face specialty disposal challenges. Service to solid waste and utility clients, which is less susceptible to economic volatility, has been a steady and growing part of Tetra Tech's business.”
AEG is joining Tetra Tech's Remediation and Construction Management (RCM) segment. Tetra Tech anticipates that AEG will contribute approximately $50 million of net revenue and, after intangible amortization and integration costs, approximately 1 to 2 cents to diluted EPS in fiscal year 2013. The terms of the acquisition were not disclosed.
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