LOWELL, MASS. - TRC Companies, Inc., a recognized leader in engineering, consulting and construction management services to the energy, environmental and infrastructure markets, today announced it has acquired X-Line, Inc., based in Villa Rica, Ga. X-Line’s 37 employees provide distribution engineering and design services to customers in the power and telecommunications industries. Financial terms of the agreement were not disclosed. TRC expects the transaction to be accretive to earnings by Q1 of TRC’s fiscal 2016.
“The acquisition of X-Line will support TRC’s ability to capitalize on growing opportunities in distribution engineering and design,” said TRC Chairman and Chief Executive Officer Chris Vincze. “X-Line adds technical depth, experience and expertise, while reinforcing TRC’s leadership, management and reputation in this core business. X-Line’s footprint in the Southeast U.S. strengthens TRC’s presence in the existing markets of Georgia, Alabama and Tennessee, while also adding Kentucky, and brings opportunities to expand relationships with major clients in power distribution and telecommunications.”
“TRC’s national reputation, capital resources and corporate infrastructure provide a powerful platform for us to drive growth in our core competencies,” said Bryan Powell, CEO of X-Line. “We are excited to join the TRC team as we work together to capitalize on new business opportunities and drive and expand on existing relationships in the power and telecom markets.”
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 www.TRCsolutions.com and follow TRC on Twitter at @TRC_Companies and on LinkedIn.
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, 2014, 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.