Tetra Tech

Tetra Tech
Public
Traded as NASDAQ: TTEK
S&P 600 Component
Industry Professional services
Founded 1966
Headquarters Pasadena, California, United States
Number of locations
 400
Area served
 Worldwide
Revenue Increase$2.8 billion (FY2017)
Number of employees
 17,000
Divisions Government Services Group, Commercial/International Group
Website tetratech.com

Tetra Tech, Inc. is a Pasadena, California-based consulting and engineering services firm. The company provides consulting, engineering, program management, and construction management services in the areas of water, environment, infrastructure, resource management, energy, and international development.[1] Specific services for consulting and engineering projects include applied science, information technology, engineering, design, construction management, and operations and maintenance.[1]

Engineering News-Record ranked Tetra Tech number one in water for 15 years, and as the number four design firm on its 2018 “Top 500 Design Firms” list.[2]

History

Tetra Tech, Inc. was founded in 1966 as Water Management Group of Tetra Tech Inc.,[3] by four individuals in Pasadena, California, to provide engineering services to waterways, harbors, and coastal areas.[4] The company has increased its size and scope of business substantially through internal growth and strategic acquisitions.[5]

During its early years, the company designed waterway structures at harbors, ports, and marinas; supported water quality control projects; supported oil and gas exploration projects; and calculated the effects of offshore military activities for the Department of Defense.

In 1977 Tetra Tech offered common stock on the American Stock Exchange and used this capital to expand its services, from developing methods to predict the level and frequency of floods and causes of acid rain to environmental impact studies of gas pipeline construction and installing Hydro Products equipment for the U.S. Navy.[4] By 1979, Tetra Tech was helping to analyze data used in exploring Alaska’s North Slope for oil.[3]

In 1982 Honeywell, Inc. purchased Tetra Tech’s U.S. operations and another group acquired Tetra Tech International.[4] Under Honeywell, Tetra Tech’s engineering services, especially environmental, grew steadily. The company phased out gas exploration and related products and phased in data systems.[4]

In 1988 Honeywell sold Tetra Tech’s engineering division to a group of company employees. Dr. Li-San Hwang, who joined the company in 1967, led the new independent Tetra Tech.[6] Honeywell retained the data systems division and a Tetra Tech co-founder to head it. Since its split from Honeywell, the company has grown from 300 employees to more than 13,000.[3]

In 1991 Tetra Tech issued 1.4 million shares of stock on the NASDAQ exchange.[7] The cash infusion permitted more acquisitions of engineering firms specializing in water resources (urban drainage and flood control), civil engineering (bridges and waterway design), environmental restoration, and hazardous waste cleanup.[4] Gross revenues totaled $96.5 million by 1994.[8]

During the early 2000s, the company’s environmental remediation and water services continued to grow. There was also a transition in executive leadership. In 2005 Dr. Hwang retired, and Dan Batrack, who joined Tetra Tech in the early 1980s, became CEO.[9]

The remainder of the decade to 2014 involved growth by acquiring firms in Canada, Australia, and South America in its core (water and infrastructure) and new markets (mining and energy). Tetra Tech also acquired firms that provided international development services to the U.S. Agency for International Development (USAID). These new acquisitions focused on implementing sustainable strategies for water, energy, and the environment in Africa, Asia, and South America and facilitating stability and growth in countries in the aftermath of social conflicts or failed governing institutions.[4]

In 2016 Tetra Tech commemorated its 50th anniversary.[10] As part of the Company’s anniversary it launched the Global Clean Water Fund grant program in partnership with Engineers Without Borders. Tetra Tech donated $50,000 to 6 projects around the world that provided clean, safe water for communities in need.[11] Tetra Tech also celebrated 25 years as a publicly traded company on the NASDAQ Stock Market Exchange in December 2016.[12]

Beginning in 2017 Tetra Tech expanded its sustainable infrastructure design practice.[1] Tetra Tech acquired two sustainable infrastructure companies in 2017 and 2018 with reach across the western United States, Australia, the Asia-Pacific region, the United Kingdom, and Canada.[13]

In January 2018 Tetra Tech acquired an aviation technology solutions firm that expands Tetra Tech’s aerospace data analytics, environmental and acoustic consulting, and 3-dimensional airspace visualization capabilities for federal and commercial aviation costumers. [14]

Operations

Headquartered in Pasadena, California, Tetra Tech has more than 16,000 associates in 400 offices worldwide.[1] Its clients include a diverse base of international, U.S. state and local government, U.S. federal government, U.S. commercial, and international clients. No single client, except for U.S. federal government clients, accounted for more than 10 percent of the company’s revenue in fiscal 2017.[1]

The company is organized in two business groups: Government Services Group (GSG) and Commercial/International Services Group (CIG).[1]

Sustainability

Tetra Tech’s Sustainability Program aims to expand the company’s commitment to sustainability by encouraging, coordinating, and reporting on actions to minimize collective impacts on the environment. The Program has three primary pillars: Projects, Procurement, and Processes. The program is based on the Global Reporting Initiative ("GRI") Framework.[1]

The Sustainability Program is led by Tetra Tech’s Chief Sustainability Officer, who has been appointed by executive management and is supported by other key corporate and operations representatives via the Sustainability Council. Tetra Tech publishes an annual Sustainability Report Card on tetratech.com.[1]

In 2018 Tetra Tech joined the United Nations Global Compact. As a member, Tetra Tech has pledged to align business strategy with key principles on human rights, labor, environment, and anti-corruption and the UN’s Sustainable Development Goals.[15]

Science, Technology, Engineering, and Mathematics

In 2016 Tetra Tech launched its Science, Technology, Engineering, and Mathematics (STEM) Program as a platform for its employees to share their knowledge and help students develop an interest in these four technical fields. This Program includes employee-run and program participation in activities such as classroom visits, science activities, and mentorships.[16]

Awards and recognition

  • 2018: Environmental Business Journal Business Achievement Awards for Large Business (Silver Medal)[17]
  • 2017: Environmental Business Journal Business Achievement Awards for Large Business (Gold Medal), Project Merit—Clean Power for the Power Africa Transactions and Reforms Program, and Technology Merit—Water for the Lakewood, California, stormwater management project[18]
  • 2017: Climate Change Business Journal Business Achievement Award for Project Merit—Climate Change Resilient Infrastructure for the green infrastructure project at Viola Liuzzo Park in Detroit, Michigan[19]
  • 2016: Society of American Military Engineers Large Business Award for achievement in small business mentorship[20]
  • 2016, 2015: Bentley Be Inspired Award for the Innovation in Mining Category[21]
  • 2013: U.S. Small Business Administration Dwight D. Eisenhower Award, Excellence in Service Category[22]
  • 2012: American Council of Engineering Companies (ACEC) "Grand Conceptor Award" for the U.S. Army Corps of Engineers Inner Harbor Navigation Canal Lake Borgne Surge Barrier, New Orleans, Louisiana[23]
  • 2012: Tetra Tech CEO Dan Batrack honored as one of the National Safety Council’s 2012 CEOs Who "Get It"[24]

Soil sample controversy

In 2016, Tetra Tech was accused of faking soil samples in San Francisco, California, after the U.S. Navy identified 386 “anomalous” soil samples out of the more than 25,000 taken at Hunters Point Shipyard over the past 20 years.[25] In April 2018, U.S. Environmental Protection Agency comments, released by Public Employees for Environmental Responsibility (PEER), suggested that between 90 and 97 percent of the soil samples were "neither reliable nor defensible."[26] Also in April, Tetra Tech responded that both conclusions were inaccurate and offered to pay for independent retesting. Tetra Tech CEO Dan Batrack said, “We believe that any concerns can be directly addressed by actually retesting and analyzing the areas in question.”[27]

References

  1. 1 2 3 4 5 6 7 8 "Form 10-K". Tetra Tech. Retrieved 10 October 2018.
  2. ↑ "ENR 2018 Top 500 Design Firms". Retrieved 10 October 2018.
  3. 1 2 3 "Tetra Tech to zero in on its engineering and consulting services".
  4. 1 2 3 4 5 6 "Tetra Tech, Inc. History". Funding Universe. Retrieved 29 August 2015.
  5. ↑ "Form 10-K". Tetra Tech. Retrieved 29 August 2015.
  6. ↑ Rubin, Debra K. "Water is Lifeblood of Tetra Tech but Its Bottom Line is Still Thirsty". Engineer News-Record. Engineer News-Record. Retrieved 29 August 2015.
  7. ↑ "Investor FAQ". Tetra Tech. Tetra Tech. Retrieved 29 August 2015.
  8. ↑ "Selected Consolidated Financial Data". Retrieved 29 August 2015.
  9. ↑ Bieber, Mike. "Tetra Tech Selects Dan Batrack to Succeed Li-San Hwang as CEO". Business Wire.
  10. ↑ http://www.marketwired.com/press-release/tetra-tech-celebrates-50th-anniversary-nasdaq-ttek-2146383.htm
  11. ↑ http://ewb-international.com/tetra-techs-50th-anniversary-global-clean-water-fund-established-partnership-ewb-international/
  12. ↑ https://www.businesswire.com/news/home/20161213005325/en/Tetra-Tech-Ring-NASDAQ-Stock-Market-Opening
  13. ↑ https://www.businesswire.com/news/home/20171003005540/en/Tetra-Tech-Broadens-High-End-Sustainable-Infrastructure-Design
  14. ↑ https://www.businesswire.com/news/home/20180125006362/en/Tetra-Tech-Expands-Aviation-Technology-Solutions-Acquisition
  15. ↑ https://www.businesswire.com/news/home/20180423005241/en/Tetra-Tech-Releases-Annual-Sustainability-Report-Card
  16. ↑ https://3blmedia.com/News/Tetra-Tech-Sparks-Interest-STEM-Careers
  17. ↑ https://ebionline.org/2018/01/18/2017-environmental-business-awards/#toggle-id-7
  18. ↑ https://ebionline.org/2017/03/24/2016-ebj-business-achievement-award/#toggle-id-1
  19. ↑ https://ebionline.org/2017/03/22/2016-ccbj-business-achievement-award/#toggle-id-15
  20. ↑ http://s3.goeshow.com/same/business/2016/sbawards.cfm
  21. ↑ https://www.bentley.com/en/about-us/news/2016/november/03/be-inspired-awards-2016
  22. ↑ https://www.sba.gov/about-sba/sba-newsroom/press-releases-media-advisories/veteran-owned-it-firm-and-woman-owned-mapping-technology-company-win-top-honors-excellence-federal
  23. ↑ https://www.usace.army.mil/Media/News-Archive/Story-Article-View/Article/477782/army-corps-new-orleans-district-projects-take-top-honors-at-ceremony/
  24. ↑ http://www.safetyandhealthmagazine.com/articles/2012-ceos-who-get-it-13
  25. ↑ "Faked Soil Samples Throw Hunters Point Shipyard Development into Disarray".
  26. ↑ "RADIATION PROBLEMS MULTIPLY FOR SAN FRANCISCO'S HUNTERS POINT". www.peer.org. Retrieved 2018-04-11.
  27. ↑ "Possible toxic dirt taints SF Shipyard neighborhood dream for some". www.sfchronicle.com. Retrieved 2018-05-14.
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