TRC Companies, Inc., a recognized leader in engineering, environmental consulting and construction-management services to the energy, environmental, infrastructure and pipeline markets, is proud to announce it has been recognized with two Business Achievement awards from The Environmental Business Journal for 2015 in the categories of Mergers and Acquisitions and New Practice Areas. The Company was recognized for two strategic acquisitions that significantly advanced its profitable growth strategy in both the Power and Oil & Gas markets and won a second award for its accomplishments decommissioning coal power plants.
“TRC is proud to be recognized by the Environmental Business Journal,” said Chris Vincze, Chairman and Chief Executive Officer. “Investing in complementary businesses with strong market fundamentals is a key part of our strategy for continued profitable growth and performance excellence. We are committed to streamlining efficiencies nationwide and expanding our technical breadth and geographical reach to support our environmental and energy clients.”
TRC grew significantly in 2015, most notably through the acquisition of Willbros Professional Services, based in Tulsa, Okla., which brought more than 700 employees and generated $200 million in revenue in 2014. It established the Company’s fourth operating and reporting segment, Pipeline Services. TRC is now one of the nation’s only providers of end-to-end solutions for the Oil & Gas industry, from up-front environmental permitting and remediation through pipeline engineering, EPC, construction management, field services, integrity and data management services. In addition, the acquisition of Georgia-based X-Line Inc., a 40-employee firm, expanded TRC’s position in the distribution engineering and design space throughout the Southeast. In total, TRC has made 11 acquisitions since 2011, all contributing to compounded annual revenue growth of more than 15%.
In the category of New Practice Areas, TRC was recognized for its extensive work supporting the decommissioning of coal power plants. The firm provided plant owners with engineering, permitting and construction services for seven such projects in 2015 and 20 since 2008. In so doing, TRC supported the development of new, efficient gas-turbine power plants, sped the transition to a cleaner electricity supply and helped achieve greenhouse gas reductions. In 2015, TRC supported National Grid in replacing two coal-oil-gas steam-turbine generating stations in New York with new gas-turbine technology. For these projects, TRC provided health, safety and environmental plans; pre-demolition surveys; plans and specifications; procurement; and construction support services.
The Environmental Business Journal recognizes outstanding business performance in the environmental industry with its annual Business Achievement Awards. In 2015, it honored 56 companies for revenue growth, acquisitions, innovative project designs, technology applications, new practice areas, social contributions and industry leadership. The awards will be presented at a special ceremony during the Environmental Industry Summit XIV in San Diego, Calif. on March 9-11, 2016.