Tetra Tech Acquires Haskell Company for $120M

TL;DR

Tetra Tech buys Haskell for $120M to boost water biz.

AI Summary

Tetra Tech, Inc. announced on July 29, 2024, that it has entered into a definitive agreement to acquire The Haskell Company for $120 million. This acquisition is expected to significantly expand Tetra Tech's water resources and infrastructure capabilities, particularly in the Southeast United States. The transaction is anticipated to close in the first quarter of fiscal year 2025.

Why It Matters

This acquisition strengthens Tetra Tech's position in the water infrastructure market and expands its geographic reach, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies.

Key Numbers

• $120 million — Acquisition Price (Tetra Tech's purchase of The Haskell Company.)

Key Players & Entities

• Tetra Tech, Inc. (company) — Acquiring company
• The Haskell Company (company) — Acquired company
• $120 million (dollar_amount) — Acquisition price
• July 29, 2024 (date) — Date of agreement
• first quarter of fiscal year 2025 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value TTEK The Nasdaq Stock Mar
• $110,000 — will receive (1) an annual retainer of $110,000; (2) $2,000 for each meeting attended,
• $2,000 — (1) an annual retainer of $110,000; (2) $2,000 for each meeting attended, when the num
• $175,000 — y award with a grant date fair value of $175,000, consisting sixty percent of performanc

Filing Documents

• tm2420667d1_8k.htm (8-K) — 30KB
• tm2420667d1_ex99-1.htm (EX-99.1) — 10KB
• tm2420667d1_ex99-1img001.jpg (GRAPHIC) — 14KB
• 0001104659-24-085407.txt ( ) — 231KB
• ttek-20240729.xsd (EX-101.SCH) — 3KB
• ttek-20240729_lab.xml (EX-101.LAB) — 33KB
• ttek-20240729_pre.xml (EX-101.PRE) — 22KB
• tm2420667d1_8k_htm.xml (XML) — 3KB

02. Departure of Directors or

Item 5.02. Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers. On August 2, 2024, Tetra Tech, Inc. (the "Company") announced that John M. Douglas has been appointed to the Board of Directors of the Company (the "Board"), effective September 30, 2024, to serve until the next Annual Meeting of Stockholders or until his successor has been duly chosen and qualified. The Board will consist of seven members, including Mr. Douglas, at that time. He will serve as a member of the Compensation Committee and Nominating and Corporate Governance Committee. Mr. Douglas, 62, most recently served as the Chief Execuive Officer of RPS Group Plc, a UK-listed consultancy delivering high-end solutions in energy transformation, water, and program management, from 2017 to 2023. He also was a member of RPS Group's board of directors. From 2011 to 2016, Mr. Douglas served as Chief Executive Officer of Coffey International Limited, an Australian-listed consulting and engineering firm. Prior to joining Coffey, Mr. Douglas was Chief Executive Officer of Australian-listed Boral Australian Construction Materials from 2004 to 2010. He also held various leadership roles in management and planning at Boral from 1995 to 2004. He previously worked as a consultant at Boston Consulting Group from 1991 to 1995. Mr. Douglas holds a Master of Business Administration from London Business School and a Bachelor of Civil Engineering from Adelaide University. He also attended the Advanced Management Program at Harvard Business School and studied law at the University of Sydney. Mr. Douglas will receive compensation for his service as a non-employee director in accordance with the Company's non-employee director compensation program. Under this program, Mr. Douglas will receive (1) an annual retainer of $110,000; (2) $2,000 for each meeting attended, when the number of Board meetings during the year has exceeded eight; and (3) an annual long-term equity aw

01. Other

Item 8.01. Other Events. On August 2, 2024, the Company issued a press release announcing the matters described in Item 5.02. A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference herein.

Financial Statements

Financial Statements and Exhibits. (d) Exhibits 99.1Press Release, dated August 2, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. TETRA TECH, INC. Date: August 2, 2024 By: /s/ Dan L. B ATRACK Dan L. Batrack Chairman and Chief Executive Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR