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PASADENA, Calif. - Tetra Tech, Inc. (NASDAQ:TTEK), a prominent consulting and engineering service provider with a market capitalization of $7.86 billion, announced the acquisition of Carron + Walsh, an Irish management consulting firm known for its project and cost management solutions. According to InvestingPro data, Tetra Tech’s stock is currently trading near its 52-week low, suggesting potential value opportunity for investors. The financial terms of the deal were not disclosed.
Carron + Walsh, headquartered in the Republic of Ireland, specializes in managing large-scale projects across various sectors, including commercial, life sciences, residential, and infrastructure. The firm boasts a strong client base, including life sciences companies, public sector entities, housing authorities, and private developers.
Dan Batrack, Tetra Tech’s Chairman and CEO, expressed enthusiasm for the acquisition, noting that Carron + Walsh’s innovative project delivery methods align with Tetra Tech’s science-led approach and will enhance the company’s project management technology offerings. He emphasized the opportunity for increased client network and cross-selling potential in Ireland’s critical infrastructure programs.
Denis Carron and Marian Walsh, Joint Managing Directors of Carron + Walsh, highlighted the benefits of joining Tetra Tech, including scaling their impact and maintaining high-quality service. They anticipate that the partnership will provide their clients and employees with expanded resources and services, and allow them to tackle larger, more complex sustainable infrastructure programs.
Tetra Tech, with a global workforce of 30,000, focuses on providing solutions for water, environment, and sustainable infrastructure challenges. The company, which maintains a robust financial health score of "GOOD" according to InvestingPro analysis, has demonstrated strong revenue growth of 11.77% over the last twelve months. The company is involved in projects worldwide, emphasizing science-based approaches to address water cycles, environmental restoration, resilient infrastructure design, and supporting clean energy transitions.
The acquisition is expected to bolster Tetra Tech’s presence in Europe, particularly in the Republic of Ireland, where Carron + Walsh has established a significant footprint. The move is seen as a strategic expansion for Tetra Tech, potentially opening doors to new markets and sectors in the region.
This news is based on a press release statement, and as with any business development, the future outcomes are not guaranteed and subject to various risks and uncertainties.
Tetra Tech’s shares are traded on the NASDAQ stock exchange under the ticker symbol TTEK. For more information about the company, interested parties are directed to Tetra Tech’s official website and social media channels.
In other recent news, Tetra Tech Inc. reported its Q1 FY2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $0.35, compared to a forecast of $0.34. The company achieved a revenue of $1.2 billion for the quarter, marking an 18% increase year-over-year. Tetra Tech also reported a strong backlog of $5.44 billion, which is a 15% increase from the previous year. Looking ahead, the company provided guidance for Q2 FY2025, projecting net revenue between $1.0 billion and $1.1 billion. In terms of analyst activity, there were no specific upgrades or downgrades reported. The company continues to focus on its core areas of water services and disaster response, which have contributed to its robust performance. Additionally, Tetra Tech’s strategic use of AI and software solutions has been highlighted as a factor in its continued growth.
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