Perth based engineering services firm Proteus EPCM Engineers has been bought out by US giant Tetra Tech.

 

The 25-year-old Western Australian engineering firm has not released details of the acquisition, but it is believed to been high-valued after similar sized enterprises have sold for upwards of $45 million.

 

Proteus averages revenues of between $30 and $40 million and currently employs 150 staff and has been sold for “tens of millions” according to joint founding owners David Sutton and Lachlan Walker.

 

The joint founding owners expressed their confidence that the acquisition would allow the company to pursue larger scaled projects with the backing of their US owner.

 

"This is an important step in the execution of Tetra Tech's global expansion strategy," Tetra Tech chairman and chief executive Dave Batrack said.

 

"This acquisition will serve as a gateway to new markets across Asia and into Africa."