LOWELL, MASS. – Dec. 1, 2015 -- TRC Companies, Inc., a recognized leader in engineering, environmental consulting and construction management services to the energy, environmental and infrastructure markets, announced today that it has completed the previously announced acquisition of the Professional Services business segment of Willbros Group (NYSE: WG) in an all cash transaction valued at $130 million. TRC expects the transaction to be accretive to fiscal 2016 EBITDA (before one-time transaction and integration expenses) and to Fiscal 2017 net income. Willbros Professional Services becomes the fourth operating segment in the TRC portfolio and will be called “Pipeline Services.”
“Willbros Professional Services is a transformational acquisition for TRC, continuing our profitable growth strategy of investing in complementary businesses with strong market fundamentals,” said TRC Chairman & Chief Executive Officer Christopher P. Vincze. “We anticipate a rapid and smooth integration. Our sales development teams already have begun working on new project opportunities, and clients are applauding the introduction of our new platform.
“The addition of Pipeline Services as the fourth operating segment in our portfolio positions TRC as the leading provider of end-to-end solutions in both the Power and Oil & Gas markets,” Vincze said. “We believe the combination of our two businesses will provide immediate and long-term value to our clients. We welcome Willbros Professional Services to our team.”
About TRC’s Pipeline Services (formerly Willbros Professional Services)
Headquartered in Tulsa, OK, and led by Ed Wiegele, SVP, TRC Pipeline Services has approximately 850 employees in nine offices, nationwide. It has a premier reputation as a provider of innovative pipeline and facilities engineering, EPC/EPCM, field services and integrity services to the oil and gas transmission and midstream markets, as well as at government facilities. The segment’s 2014 gross revenue was approximately $209 million.
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 energy, environmental, infrastructure and pipeline services markets. TRC serves a broad range of commercial, industrial and governmental 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. 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.