It announced July 27 that it has acquired Bristol, U.K.-based Hoare Lea, a consulting and engineering firm with roughly 900 employees in 14 offices in the United Kingdom and Middle East. Financial terms of the deal were not disclosed.
This marks Tetra Tech’s second acquisition of a British consulting firm in two years. In July 2019, Tetra Tech completed its acquisition of Leeds-based WYG for $55 million in cash. WYG, a consulting firm with a broad range of specialties, had a staff of 1,600 at 26 offices throughout the United Kingdom.
Hoare Lea dates to 1862. The company now specializes in engineering sustainable buildings.
“The addition of Hoare Lea to our high-performance buildings group further advances Tetra Tech’s industry-leading sustainable building solutions for our commercial and government clients,” Dan Batrack, Tetra Tech’s chief executive, said in a statement. “They join our global practice that provides state-of-the-art net-zero carbon design, digital engineering and building intelligence for the future of the built environment.”
Tetra Tech, which was founded in 1966 as an engineering firm, has acquired at least nine companies over the past five years.
Earlier this year, Tetra Tech purchased Washington, D.C.-based Kaizen Co., which focused on community development; Arcadia-based IBRA-RAMC Automation Systems, an engineering, design and project management company; and Burnaby, British Columbia-based research and development company Coanda, which specialized in fluid dynamics.
In a separate development, Tetra Tech reported its fiscal third quarter earnings on July 28. It recorded quarterly revenue of $802 million, up 13% from the same quarter a year earlier. Net income was $51.9 million, up from $45.5 million for the same quarter last year.
Tetra Tech also reported that its backlog, a key barometer of future performance, grew to an all-time high of $3.25 billion.
“Our business generated record third quarter results driven by strong double-digit revenue growth in both our U.S. state and local and international businesses,” Batrack said.
The company also upped its guidance for full-year net revenue to between $2.5 billion and $2.55 billion. That’s up from $2.4 billion.
