LOWELL, MA--(Marketwired - Apr 4, 2017) - TRC Companies, Inc. (NYSE: TRR) today announced it purchased all of the outstanding stock of CALTROP Corp. in an all-cash transaction. Headquartered in Riverside, California, Caltrop brings 170 total employees providing engineering, construction management and inspection services to customers in the transportation infrastructure market. Financial terms of the agreement were not disclosed. TRC expects the transaction to be immediately accretive to earnings.
"The acquisition of Caltrop will enable TRC to capitalize on the growing opportunities for construction management and construction engineering inspection services in California, New York, Florida and Texas, particularly for large public works and transportation projects," said Chris Vincze, TRC's Chairman and Chief Executive Officer. "Caltrop adds technical experience and regional knowledge, while augmenting TRC's already-strong reputation in these growing geographic markets. In addition, Caltrop has fabrication inspection capabilities in China and the United Kingdom."
"Caltrop expands our capabilities to support larger-scale projects," said Doug Massih, SVP and Infrastructure Sector Leader. "We are adding depth of experience in engineering and metallurgy, as well as expertise in airports, a new market for TRC."
Caltrop has been providing professional program, project and construction management consulting services since 1988. Besides Riverside, it has locations in the California cities of Irvine, Sacramento and San Diego, as well as Jacksonville, Florida, New York City, and Shanghai.
"This is an exciting opportunity for Caltrop employees to join a leading national firm like TRC, whose values, culture and approach to client solutions align so closely with our own," said David Saber, CEO of Caltrop. "We are very proud of the contributions Caltrop has made to our clients and community. Going forward, TRC offers us an incredible platform for future growth and gives our people opportunities to pursue diverse, large-scale projects worldwide."
A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC is a national engineering, environmental consulting and construction management firm that provides integrated services to the power, environmental, infrastructure and oil and gas markets. TRC serves a broad range of commercial, industrial and government clients, 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. TRC trades on the NYSE under the symbol TRR. For more information, visit TRC's website at www.TRCsolutions.com, follow us on Twitter or StockTwits at @TRC_Companies or find us on LinkedIn.
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