Acquisition Strengthens TRC's Position in Air Emissions Testing Market
LOWELL, MA -- (MARKETWIRE) -- 01/22/13 -- TRC Companies, Inc. (NYSE: TRR), a recognized leader in engineering, consulting and construction management services to the energy, environmental and infrastructure markets, today announced that it has acquired the assets of GE's Air Emissions Testing business. As part of the transaction, TRC has also entered into a three-year master service agreement with GE Power & Water. GE's Air Emissions Testing business generated annual revenue of approximately $12 million.
"The air testing business remains a core element in TRC's offerings and has been since our founding more than four decades ago," said TRC Chairman and Chief Executive Officer Chris Vincze. "The air emissions testing market is estimated at $500 million annually. This acquisition furthers our strategy of building strength in the most promising areas of our Energy and Environmental businesses."
"With approximately 55 employees, GE's Air Emissions Testing business will bring significant technical expertise to TRC," said TRC's National Air Measurements Practice Leader Jeffrey Burdette. "Equally as important, this transaction substantially expands our footprint in the Midwest and Southeast. GE's Air Emissions Testing business also brings a number of key client accounts to TRC, including GE Power & Water."
Bruce Randall, GE's Air Emissions Testing Product Leader who is part of the team joining TRC, said, "We are enthusiastic about joining TRC and look forward to offering superior service to our clients through our combined organizations."
About TRC A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, consulting and construction management firm that provides integrated services to the energy, environmental and infrastructure markets. TRC serves a broad range of clients in government and industry, implementing complex projects from initial concept to delivery and operation. TRC delivers results that enable clients to achieve success in a complex and changing world. For more information and updates from the Company, visit TRC's website at www.TRCsolutions.com and follow TRC on Twitter at @TRC_Companies and on LinkedIn.
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