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Tetra Tech to Expand Business with Acquisition of Parkland Pipeline
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January 07, 2013

Tetra Tech to Expand Business with Acquisition of Parkland Pipeline

By Jyothi Shanbhag
TMCnet Contributor

Tetra Tech Inc., a company specializing in consulting, engineering, program management, construction management and technical services, has announced its plans to take over Parkland Pipeline, an Alberta-based firm that serves the oil and gas industry in Western Canada.

The company made this announcement after signing a definitive agreement to acquire Parkland. This new acquisition will help Tetra Tech to expand its services in the North American energy market.

With its base in Western Canada, Parkland offers technical support, engineering support and construction services for pipelines and oilfield facilities. It currently has about 900 staff and approximately C$140 million in annual revenue.

After the completion of the acquisition in fiscal Q2 2013, Parkland will be part of Tetra Tech’s Remediation and Construction Management (RCM) segment. Tetra Tech has even announced its plans to reflect Parkland’s net revenue contribution and earnings accretion in its 2013 guidance after the transaction closes.

Terms of the acquisition were not disclosed.

“Like previous acquisitions, Parkland enables Tetra Tech to provide additional core water, environmental and engineering work to the pipeline industry while better serving these customers,” said Tetra Tech’s Chairman and CEO, Dan Batrack. “We will be able to offer pipeline clients a cross-border, full-service solution. Parkland significantly expands our services to the North American energy market, and has consistently produced double-digit operating margins.”

Tetra Tech is a diverse company that includes individuals with expertise in science, research, engineering, construction and information technology. 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.

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Edited by Braden Becker

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