A court-approved scheme of arrangement for Tetra Tech to take over all WYG stock has become effective and the transaction has closed. Trading in WYG shares on the London Stock Exchange has been suspended and all outstanding shares of WYG are now owned by Tetra Tech.
WYG has 1,600 employees primarily in the UK and Europe, delivering consulting and engineering solutions for projects in planning, water and environment, transport, infrastructure, the built environment, architecture, urban design, surveying, asset management, program management, and international development.
WYG expands Tetra Tech’s international reach and gives it a platform for growth in the UK and Europe.
“The addition of WYG advances our strategy to be the premier global high-end consulting, engineering, and program management firm,” said Dan Batrack, Tetra Tech chairman and CEO. “WYG’s expertise in infrastructure and program management, as well as water and environmental services, enables us to deliver innovative solutions to support the UK’s infrastructure needs. Together, we will provide an expanded scope of services to our customers and offer our combined staff even greater professional opportunities.”
WYG, previously called White Young Green, made a pre-tax loss of £5.3m in the year to 31st March 2018 on revenue of £154m.
Tetra Tech has 18,000 employees around the world and already has six offices in the UK: in Swindon, Harrogate, Manchester, Reading and two in London. Last year it generated revenue of close to US $3bn.