SOURCE: TRC Companies, Inc.

TRC Companies, Inc.

July 07, 2014 09:00 ET

TRC Acquires Covino Environmental Associates, Inc.

Strengthens Position in Building Sciences and Industrial Hygiene Services

LOWELL, MA--(Marketwired - Jul 7, 2014) - TRC Companies, Inc. (NYSE: TRR), a recognized leader in engineering, consulting and construction management services to the energy, environmental and infrastructure markets, today announced it has acquired Covino Environmental Associates, Inc. (Covino), based in Woburn, Massachusetts. Covino's 40 employees provide building sciences, industrial hygiene and related consulting services to private and public clients including major educational institutions. Financial terms of the agreement were not disclosed.

"We are excited to strengthen our building sciences and industrial hygiene service capabilities with the addition of Covino Environmental Associates," said TRC Chairman and Chief Executive Officer Chris Vincze. "Recent regulatory guidance for the identification, removal and disposal of old building materials is driving an increase in related spending in the education and healthcare markets where Covino has a solid reputation. This acquisition expands our footprint in the Northeast, making us one of the largest providers of building sciences and industrial hygiene services in New England, and helps TRC capitalize on the growing decommissioning and real estate markets in the U.S."

Sam Covino, President of Covino Environmental Associates, said, "Our joining TRC will offer significant advantages to our clients. Not only will they continue to receive the personalized service that they have come to expect, but they will benefit by having access to additional services and deeper resources. We look forward to the many new opportunities our combined organizations will create for both our clients and employees."

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 and follow TRC on Twitter and StockTwits at @TRC_Companies and on LinkedIn.

Forward-Looking Statements
Certain statements in this press release may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You can identify these statements by forward-looking words such as "may," "expects," "plans," "anticipates," "believes," "estimates," or other words of similar import. You should consider statements that contain these words carefully because they discuss TRC's future expectations, contain projections of the Company's future results of operations or of its financial condition, or state other "forward-looking" information. TRC believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or control and that may cause its actual results to differ materially from the expectations described in its forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and actual results may differ materially from those discussed as a result of various factors, including, but not limited to, the uncertainty of TRC's operational and growth strategies; circumstances which could create large cash outflows, such as contract losses, litigation, uncollectible receivables and income tax assessments; regulatory uncertainty; the availability of funding for government projects; the level of demand for TRC's services; product acceptance; industry-wide competitive factors; the ability to continue to attract and retain highly skilled and qualified personnel; the availability and adequacy of insurance; and general political or economic conditions. Furthermore, market trends are subject to changes, which could adversely affect future results. See the risk factors and additional discussion in TRC's Annual Report on Form 10-K for the fiscal year ended June 30, 2013, Quarterly Reports on Form 10-Q, and other factors detailed from time to time in the Company's other filings with the Securities and Exchange Commission.

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