SOURCE: TRC Companies, Inc.
LOWELL, MA--(Marketwire - Jul 16, 2012) - TRC Companies, Inc. (NYSE: TRR) today announced it will open an office in London, operating under the name, TRC Companies Ltd.
"We are excited to bring to the London marketplace the unique delivery of services and work products of TRC Companies Ltd.," said TRC Chairman and Chief Executive Officer Chris Vincze. "This marks for us a significant step in TRC's long-term global growth initiative, and we look forward to company growth through project opportunities in Europe, the Middle East, Africa and Asia."
Vincze continued, "Our initial focus in London will be in the transactions area focusing on environmental risks on the buy and sell sides. In addition, we will be addressing Environmental Social Governance (ESG) issues, which will be of particular interest to the investor community there."
John Payne, the founder and principal of The Payne Firm, Inc. and currently Senior Vice President at TRC, will serve as Director of the London office, which opens for business on July 16, 2012. Day to day operations in London will be managed by Senior Program Manager Will Nitch-Smith.
TRC acquired The Payne Firm, Inc. in September 2011. Payne had formerly been operating in London for three years, building relationships in the private equity and law firm communities, providing deal advisory services and post-acquisition support for clients in portfolio companies.
"The London office team already has years of transaction experience with many of the private equity Global 50, so there will now be a dedicated team of professionals to serve their needs in the U.K. and European marketplaces," said Payne.
As a founding developer of the Eco-Value-Screen methodology for screening ESG opportunities during due diligence, the TRC Companies Ltd. team has years of experience successfully executing the process, identifying opportunities in diligence, and developing execution plans for implementing environmental improvements post-acquisition.
"Since TRC acquired The Payne Firm, our combined strength of services has provided us with an opportunity for significant growth," said Payne. "Our talented team of professionals looks forward to delivering not only the trusted advisory services that built the former Payne Firm into a respected brand, but also the broader range of TRC's environmental expertise to clients in the U.K. and across Europe."
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 us 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 availability and adequacy of insurance; the uncertainty of our 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; 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, 2011, 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.