Project management and technical consultancy WYG has delisted from AIM following completion of its £43.4m takeover.
Leeds-headquartered WYG is a professional services firm providing engineering, design, project management, town planning and environmental services operating from more than 50 locations across the UK, Europe, Africa and Asia.
Its consultancy services business employs approximately 1,200 staff and operates predominantly in the UK, while its international development arm has approximately 400 employees.
In May 2019, the boards of WYG plc and Tetra Tech UK Holdings reached agreement on the terms of a recommended all cash offer for WYG. WYG shareholders are entitled to receive 55 pence per share.
The High Court sanctioned the takeover scheme on 5 July after shareholders voted to back the deal.
The deal has now completed and WYG's shares have been de-listed from AIM.
Dan Batrack, Tetra Tech chairman and chief executive, 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."
Following completion, Jeremy Beeton, Neil Masom and Marcia Marini have resigned as non-executive directors, while Richard A Lemmon and Derek Amidon have been appointed to the WYG board.
N+1 Singer is the financial adviser to WYG and Perella Weinberg Partners the financial adviser to Tetra Tech. Hogan Lovells is providing legal advice to Tetra Tech. DLA Piper UK is providing legal advice to WYG
Sourced insider Media Limited - written by Stephen Farrell .