Tetra Tech announced its offer to acquire all of the outstanding shares of the engineering solutions firm through a United Kingdom (UK) court-approved scheme of arrangement has become effective and the transaction has closed.
Trading in WYG shares on the London Stock Exchange has been suspended and the outstanding shares of WYG are now owned by Tetra Tech.
The move ends close to 60 years of WYG being an independent business, having been founded in 1960 by Ernest Green.
WYG employs 1,600 people across the UK and Europe and there is expected to be a reduction in staffing as a result of the deal with Tetra Tech.
WYG works in delivering consulting and engineering solutions for complex projects across key service areas including planning, water and environment, transport, infrastructure, the built environment, architecture, urban design, surveying, asset management, program management and international development.
A spokesperson said: “WYG expands Tetra Tech’s geographic presence and positions Tetra Tech as a leading global consulting, engineering and program management firm focused on water, environment and infrastructure.
In addition, WYG enhances Tetra Tech’s international development business both for the European Union and the United Kingdom’s Department for International Development. Collectively, its expanded presence in the UK provides a strong platform for growth in the UK and Europe.”
Dan Batrack, Tetra Tech Chairman and CEO, said: “The addition of WYG advances our strategy to be the premier global high-end consulting, engineering, and program management firm.
“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.”