PASADENA, Calif.--()--Tetra Tech, Inc. (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.
“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.”
“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.
About AEG (www.aegl.net)
Founded in 2002, American Environmental Group, Ltd. provides specialty environmental, construction, and maintenance services to solid and hazardous waste, environmental, utility, mining, and other industrial clients.
About Tetra Tech (www.tetratech.com)
Tetra Tech is a leading provider of consulting, engineering, program management, construction management, and technical services. The Company supports government and commercial clients by providing innovative solutions to complex problems focused on water, environment, energy, infrastructure, and natural resources. With more than 14,000 employees worldwide, Tetra Tech’s capabilities span the entire project life cycle.
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 10-Q filings with the Securities and Exchange Commission.