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Hogan Lovells advises Tetra Tech on £636m RPS takeover
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28 Sep 2022 / corporate law Print

Hogan Lovells advises Tetra Tech on RPS takeover

A Hogan Lovells team, led by London corporate partner Daniel Simons, has advised Nasdaq-listed consultancy and engineering services firm Tetra Tech on its recommended takeover offer of RPS Group plc.

The transaction was announced on 23 September and is expected to complete by year-end, subject to regulatory and shareholder approval.

RPS shareholders are being offered 222 pence in cash per share, which values the entire issued, and to be issued, share capital at approximately £636 million.

Irrevocable undertakings

Tetra Tech has also secured irrevocable undertakings and letters of intent from certain RPS shareholders, which hold approximately 27.53% of RPS’ issued share capital, to vote in favour of Tetra Tech’s offer.

The board of directors of RPS has unanimously recommended Tetra Tech’s takeover offer.

Daniel Simons (Hogan Lovells) said the deal underlines the firm’s expertise in executing high-level and complex cross-border transactions in the public M&A market.

Tetra Tech provides consulting and engineering services for water, environment, sustainable infrastructure, renewable energy, and international development projects.

RPS Group employs 5,000 in energy transformation, water, and program management.

The combined 26,000 workforce will establish a premier global consultancy in water, environment, sustainable infrastructure, and energy transformation. 

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