ENGINEERING TECH, CONSTRUCTION
Tetra Tech | September 26, 2022
Tetra Tech, Inc. (NASDAQ: TTEK), a leading provider of high-end consulting and engineering services, is pleased to announce that it has reached an agreement with RPS Group plc (“RPS Group”) on the terms of an all-cash acquisition of RPS Group for 222 pence per share (the “Acquisition”). The Acquisition has been unanimously recommended by the Board of Directors of RPS Group.
The combined 26,000 associates of the RPS Group and Tetra Tech will establish a premier global consultancy in water, environment, sustainable infrastructure, and energy transformation. The RPS Group employs 5,000 associates in Europe, the United Kingdom, Asia Pacific, and North America, delivering high-end solutions especially in energy transformation, water, and program management for government and commercial clients. Tetra Tech is a global high-end consultancy with #1 rankings in both water and environmental management as published in Engineering News-Record. Its 21,000 associates are technical experts in delivering more than 70,000 projects per year around the world.
The RPS Group significantly expands Tetra Tech’s water practice in the United Kingdom, and enhances Tetra Tech’s leading position in renewable energy and environmental management. The combination further strengthens our geographic presence in the United Kingdom, European Union, and Australia. The RPS Group and Tetra Tech are culturally aligned and together will use a Leading with Science® approach to address critical issues such as climate change, resiliency, and energy transformation. The combination of the RPS Group and Tetra Tech also advances both companies’ strategies to provide high-end consulting with an emphasis on advanced data analytics and unique software applications, such as those in water management, ocean analytics and contaminant modeling.
“The RPS Group advances our long-term strategy to enhance our position as the premier global high-end consulting and engineering firm focused on water, environment, sustainable infrastructure, and energy transformation. We welcome the RPS Group’s associates to join us and collectively leverage our long-term client relationships and project experience. As a global consultancy with a commitment to high-end solutions, we can offer our expanded team of associates even greater professional opportunities.”
-Dan Batrack, Tetra Tech Chairman and CEO.
Ken Lever, Non-Executive Chairman of RPS commented, The Board of RPS is pleased to recommend Tetra Tech’s offer, which provides our shareholders with even greater value for their shares. Our combination with Tetra Tech will provide attractive opportunities and long-term benefits to our associates and global clients.
“Joining Tetra Tech represents a highly attractive combination of two leading companies in the industry for our clients and provides an ideal opportunity for our people to realize RPS’ goals to meaningfully contribute to the world’s most challenging problems in energy transformation and water management around the world. I am very excited about the future of our combined company and the benefits for our people and clients. By joining together, Tetra Tech provides RPS and its employees with a strong and culturally aligned platform that creates a pre-eminent consulting and engineering firm addressing climate change and all its effects.”
-John Douglas, Chief Executive of RPS.
About RPS Group:
RPS Group is a public limited company registered in England and Wales. RPS Group’s shares are listed on the Official List of the London Stock Exchange. Founded in 1970 and built on a legacy of environmental and social engagement, RPS Group is a diversified and well recognized global professional services firm of approximately 5,000 talented employees.
As an established technology enabled consultancy that operates across a range of sectors, RPS Group provides specialist services to government and private sector clients with a focus on front-end consulting. RPS Group creates shared value for all stakeholders by solving problems that matter in a complex, urbanizing, resource-scarce world and concentrates its expertise on the parts of project lifecycles that have the biggest impact on project outcomes with a strong sustainability agenda. RPS Group has been widely recognized in this respect, having been ranked number one in the UK for climate change and energy consulting by the Environment Analysis for 2019/2020, a top 200 environmental firm by Engineering News-Record in 2021 and recognized in 2021 as one of the first “carbon champions” by the Institution of Civil Engineers.
RPS Group operates across approximately 100 offices in 12 countries, with more than 99% of its net revenue during the 2021 financial year generated from its operations in OECD countries. The majority of its net revenue during the 2021 financial year was generated from its operations in the United Kingdom, Australia and the United States.
About Tetra Tech:
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 21,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, renewable energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients.
ENGINEERING TECH, CONSTRUCTION
Assignar | September 30, 2022
Assignar, the global leader in cloud-based construction operations software, today announces the expansion of its business operations into the United Kingdom. Assignar’s initial expansion will target the heavy civil, excavation, demolition and rail sectors.
The company is designed to bring all construction operations under a single view, making it particularly effective for highly regulated verticals. The platform allows contractors to remain compliant and safe in their operations with real-time visibility and communications across multiple projects.
“Assignar was designed from a boots-on-the-ground perspective because it’s the solution I needed for my contracting company, Contractors don’t need a hands-off management system. They need a tool they can take into the field that solves for common operational problems. And that’s what Assignar is purposefully designed to do.”
-Sean McCreanor CEO Assignar.
Construction in the UK has experienced impressive growth in recent years, and experts predict the industry to grow an additional 14% in 2022 alone. Additionally, the recent passing of the National Infrastructure and Construction Pipeline will funnel an additional £650 billion into the industry over the next ten years.
In recent years, the software provider has partnered with numerous UK-based contracting companies for their operations in Australia. Continued success with these clients, along with strong similarities between the nations’ construction markets, made this expansion a natural next step. The company aims to get a sample size of UK customers by the end of 2022 and will expand the team from there.
“It’s really exciting to be on the ground as we begin to expand our presence in the country and look to bring improved operations to the construction industry, I’ve been reaching out to local contractors and people from my time working as a civil engineer. They’ve responded with a lot of excitement, especially in the traffic management and highway sectors. From my own experience, I know the UK market is more than ready for the tools offered in the Assignar platform.”
-Mark Milner, a Senior Account Executive at Assignar.
London is a fantastic place to scale a global tech business, said Laura Citron, CEO of London & Partners. That's why we're delighted to welcome Assignar to London this October and are thrilled they have chosen to grow their team and operations in our thriving ecosystem. I look forward to seeing how Assignar will continue to go from strength to strength in providing safety and compliance for the UK's construction sector.
Assignar is the global leader in cloud-based construction operations. Its platform helps self-perform general and subcontractors improve productivity and operations, such as labor, crew and equipment management, resource-loaded scheduling, field data, timesheets, and more. Assignar works with hundreds of customers, ranging from multinational, multi-billion-dollar companies to specialist contractors with as few as five crews. Assignar’s customers operate in infrastructure, road, rail, civil, utilities and other construction disciplines. The company has offices in Denver, Colorado and Sydney, Australia and is backed by Tiger Global, SecondQuarter Ventures, Fifth Wall, Ironspring Ventures, Our Innovation Fund (OIF) and Tola Capital.
Procore | November 17, 2022
Inpensa, a leading provider of Capital Planning solutions, today announced an integration in partnership with Procore Technologies, Inc., a leading global provider of construction management software. This integration will provide robust capital planning solutions to Procore customers. Customers can now manage their capital plans, cost estimations and track CapEx-related project performance within Inpensa and exchange data with the Procore platform. The integrated solution helps solve a key industry challenge by streamlining the connection between the capital planning process and project delivery, and enabling greater insights that improve decision making.
Inpensa solution provides the ability to create a new project idea, develop a business case & cost estimations and use a dynamic workflow to approve it. All projects can be combined to develop a comprehensive capital plan at the individual business unit level with budget guardrails, scenario modeling, and reprioritization. Data can be exchanged with the Procore tools to eliminate double entry and create continuity. The combined solutions provide data analytics to allow for analysis and reporting. Customers can benefit from a standardized, easy-to-use process and the ability to optimize their overall capital spend.
For many years, the Inpensa Capital Planning Platform has been used by some of the world’s largest organizations to manage the full life-cycle capital planning process and help companies optimize their overall capital spend, said Suraj Nekram, Inpensa co-founder and CEO. We are excited about the partnership with Procore, the industry leader in construction management software and the opportunity to offer our solution to their global customers.
"We are thrilled to have Inpensa as a new Procore partner. Their team has deep knowledge and real-life experience in the Finance and Capital Planning space, and integrating the Inpensa solution with the Procore platform provides our mutual customers with an exciting opportunity to drive meaningful improvement in business workflows that are traditionally very siloed, disconnected, and inefficient. The integrated solution connects capital planning with project delivery to give stakeholders across the business increased efficiency, visibility, governance, and control."
-Jeremy Chasen, Senior Manager, Business Development at Procore.
Inpensa is a venture backed software company that provides purpose-built solutions for capital planning, capital appropriation requests and performance management. Inpensa customers range from small to some of the largest Fortune 500 companies in the world. Inpensa offers a pro-edition for smaller businesses and Enterprise edition for larger companies that have more complex requirements. Customers small and large benefit from our years of hands-on expertise, careful attention to details and customer centric approach. Our industry leading SaaS platform is built to develop better capital plans, effectively manage capital projects and optimize overall capital spend.
Procore is a leading global provider of construction management software. Over one million projects and more than $1 trillion USD in construction volume have run on Procore's platform. Our platform connects every project stakeholder to solutions we've built specifically for the construction industry—for the owner, the general contractor, and the specialty contractor. Procore's App Marketplace has a multitude of partner solutions that integrate seamlessly with our platform, giving construction professionals the freedom to connect with what works best for them. Headquartered in Carpinteria, California, Procore has offices around the globe.