TRC Companies, Inc. provides engineering, consulting, and construction management services in the United States. Its Energy segment offers program design and management, quality control, engineering, financial tracking, and reporting services to energy companies, utilities, commercial entities, and government entities. This segment undertakes upgrade, design, and new construction of electric transmission and distribution systems and substations, energy program design and management, and renewable energy development and power generation projects. The company's Environmental segment is involved in environmental management of buildings and facilities; air quality measurements and modeling of potential air pollution impacts; water quality and resource management; assessment and remediation of contaminated sites and buildings; hazardous waste management; construction monitoring, inspection, and management; environmental, health, and safety management and sustainability advisory; compliance auditing and strategic due diligence; environmental licensing and permitting of projects; and natural and cultural resource assessment, protection, and management. This segment serves industrial, transportation, energy, and natural resource companies, as well as federal, state, and municipal agencies. Its Infrastructure segment provides roadway, bridge, and surface transportation design; structural design and inspection of bridges; program management; construction engineering inspection and management for roads and bridges; civil and geotechnical engineering services; and security assessments, design, and construction management services to state and municipal governments, and commercial developers. The company's Pipeline Services segment offers engineering, procurement, and construction; project management; and integrity and field services to the oil and gas, and electric utility industries. TRC Companies, Inc. was founded in 1969 and is headquartered in Windsor, Connecticut.
TRC Companies to be bought out at a 47% premium TRC Companies Inc. TRR, +45.61% announced Friday a deal to be acquired by New Mountain Partners IV in a deal that values the construction management firm at about $554.6 million. Under terms of the deal, New Mountain, a fund managed by New York's New Mountain Capital, will pay $17.55 a share in cash for each TRC share outstanding, representing a 47% premium to Thursday's closing price of $11.95. TRC has about 31.6 million shares outstanding, according to FactSet. "This transaction will deliver immediate value to our shareholders while enabling TRC to continue to pursue its long-term growth strategy," said TRC Chief Executive Chris Vincze. "We are confident this partnership with New Mountain Capital represents the best path forward for all of TRC's stakeholders." The stock, which was halted for news, has rallied 13% year to date, while the S&P 500 SPX, -0.12% has gained 5.8%.
