WINDSOR, CT, Jan. 19, 2005 (BUSINESS WIRE) -- TRC has completed three acquisitions that currently represent a total of about $20 million in gross revenues. Terms were not disclosed.
"These acquisitions are a significant step forward in our strategy to expand our core practices in both key niche markets and high-growth geographic areas," said Chairman and CEO Dick Ellison. "Each of these companies fits well into our very successful program to acquire modest-size professional organizations, with strong management and key positions in market areas we want to enter to assure our long-term industry leadership. Each will be immediately accretive and had been anticipated in our business plan for fiscal 2005. We expect additional comparable acquisitions in the months to come."
They are:
-- Environomics, of Phoenix, provides high-level consulting for indoor air quality mold issues for existing and new construction. A key aspect of its business model is its involvement in identifying procedures for building owners and contractors to allow them to minimize the potential for indoor air quality issues in new or remodeled facilities. For example, its staff has worked with insurance companies, such as AIG, to develop standards under which building owners can obtain coverage for potential mold issues. the company's leadership role is reflected in its presentation of about 200 workshops annually for insurance executives, building owners, and construction company staff concerning indoor air quality, and its participation as expert witnesses for hundreds of mold-related litigation cases each year. It has offices in Arizona, California, Hawaii, Indiana, Nevada and Texas. "This acquisition provides TRC with access to new customers in health care, construction, insurance, home building and real estate, and gives us the opportunity to expand Environomics' services into the high density New York/Mid-Atlantic region," Ellison said.
-- PacLand, of Seattle, provides site planning, land use and environmental entitlement, civil engineering, and traffic and transportation design consulting for large-scale commercial land owners, private developers, REITs and national retailers, such as Wal-Mart, Lowe's, and Albertson's. Through its offices in Seattle and Olympia, Wash.; Portland, Ore.; and Roseville, Calif., the company offers consulting services throughout much of the western U.S. "PacLand enjoys strong relationships with key national retailers based on its reputation for quality service and project delivery. We expect demand for commercial development services to remain robust in the years ahead, and we can facilitate PacLand's expansion into key growth areas, such as Southern California, Nevada, Arizona, and the Gulf Coast. In addition, we expect that TRC's Brownfield remediation services and Exit Strategy capabilities represent natural extensions of PacLand's current service offerings, especially as the availability of 'greenfields' sites diminishes," Ellison said.
-- VPoint, of Las Vegas and Reno, Nev., provides site planning, civil engineering, water supply and disposal, and traffic consulting services for major home builders and key cities in rapidly growing Northern and Southern Nevada. "VPoint will provide a variety of strategic roles for TRC," explained Ellison. "It adds considerable capabilities and market penetration for our California-Nevada-Arizona growth initiative. Its water resource capabilities will assist TRC to enter larger projects in this region where water supplies and wastewater reuse is becoming a major restriction to growth. And finally, its management team will add strength to the platform we are developing to be a major supplier of value services in this important geographic region."
About TRC Companies
Named one of FORTUNE Magazine's 100 Fastest Growing Companies in 2003, Forbes Top 200 Best Small Companies and Business Week's Top 100 Hot Growth Companies, TRC (www.trcsolutions.com) is a customer-focused company that creates and implements sophisticated and innovative solutions to the challenges facing America's environmental, infrastructure, power, and transportation markets. The company is also a leading provider of technical, financial, risk management, and construction services to both industry and government customers across the country.
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