Tetra Tech, Inc. : Tetra Tech Expands Services to Shale Oil Market with Rooney Engineering Acquisition
06/06/2012| 03:15pm US/Eastern
Tetra Tech, Inc. (NASDAQ:TTEK) announced today that it has acquired
Rooney Engineering, Inc. (REI), an oil and gas pipeline planning and
engineering firm based in Colorado. REI has worked on projects across
the United States, including in Alaska and the Gulf Coast, but many of
the firm's current clients are strategically located in the Bakken and
Niobrara shale oil regions. REI generates annual revenue of
approximately US$30 million.
"Tetra Tech has strong capabilities in water resources and front-end
environmental permitting for oil and gas projects, while REI's pipeline
planning and engineering credentials are among the strongest in the
United States," said Dan Batrack, Tetra Tech's Chairman and CEO.
"Together we can offer the rapidly growing shale oil market more
comprehensive services. We are pleased to welcome all REI employees to
Dean Shauers, REI's President, added, "Our customers are offering us
projects with far greater size and scope than ever before. We believe we
can better serve these customers by leveraging the depth of science and
engineering resources that Tetra Tech brings, while maintaining the
client responsiveness that we have always offered."
The terms of the acquisition were not disclosed. REI is joining Tetra
Tech's Technical Support Services business segment.
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 13,000 employees
worldwide, Tetra Tech's capabilities span the entire project life cycle.
About Rooney Engineering (www.rooney-eng.com)
For more than 30 years, Rooney Engineering, Inc. (REI) has provided
planning, engineering, and construction management services for crude
oil and natural gas production, midstream and mainline
pipeline/facilities, and transmission projects. REI also offers
specialized services for refined products pipelines, terminals, and
natural gas storage. A well-established engineering services
organization, REI's client base extends from Hawaii to Pennsylvania and
from Alaska to the Gulf Coast, with a particular concentration in the
central and western United States.
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.
Tetra Tech, Inc.
Jim Wu, Investor Relations
Media & Public Relations
© Business Wire 2012