SRA International [SRX] yesterday said it has agreed to acquire Perrin Quarles Associates (PQA), a small environmental consulting firm that specializes in environmental program development and implementation for air quality and climate change.
The acquisition, which is expected to close within a month, gives SRA expertise in air quality issues and expands its business with the Environmental Protection Agency, PQA’s largest customer. PQA also does work for the United Nations, states, and foreign governments.
“PQA has a proven track record of exceeding customer expectations, a dedicated employee base, and is a world leader in the billion-dollar air-quality and climate-change markets, all of which positions SRA well in this market adjacent to our core environmental offerings,” Stan Sloane, SRA’s president and CEO, said in a statement.
Perrin Quarles Associates, which is based in Virginia, has about 100 employees. SRA said that PQA would add about $6 million in sales for the rest of its fiscal year, which ends in June. SRA doesn’t expect earnings accretion from the acquisition to be significant the rest of the fiscal year.
Fennebresque & Co., LLC is PQA’s financial adviser on the deal.