TRC Completes Merger With Affiliates of New Mountain Capital
TRC COMPANIES INC (TRR)
US:NYSE Investor Relations:
trcsolutions.com
Company Research
Source: GlobeNewswire
LOWELL, Mass., June 21, 2017 (GLOBE NEWSWIRE) -- TRC Companies, Inc. (NYSE:TRR) (“TRC”), a recognized leader in engineering, environmental consulting and construction-management services, today announced it has completed the previously announced merger with affiliates of New Mountain Partners IV, L.P. (“NMC”), an investment fund managed by New Mountain Capital, L.L.C. As a result of the transaction, NMC acquired TRC for $17.55 per share in cash. TRC shares will be delisted from the NYSE and will no longer be publicly traded. “The completion of this transaction marks the beginning of a new chapter for TRC and is an important step in executing on our long-term growth strategy,” said TRC Chairman and Chief Executive Officer Chris Vincze. “There is an immense need for creative thinking to help solve some of the world’s toughest infrastructure and energy challenges and, with NMC’s partnership, TRC is well-positioned to do just that. NMC’s financial strength and strategic relationships w
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