WINDSOR, Conn., Jan. 4, 2002 – TRC Companies, Inc. announced the acquisition of E/PRO, an engineering firm in the design, construction AND management of power infrastructure facilities in the Northeast. E/PRO became an independent company in 1999 as a spin-off of Central Maine Power Company’s internal engineering group.
Since then the management buyout group has grown annual revenues from about $5 million to more than $12 million. Their strong reputation in the municipal and private utility industry has allowed E/PRO’s highly experienced management team to rapidly expand services to satisfy the growing need of upgrading and extending power transmission and distribution systems in the Northeast region. In addition, E/PRO is a recognized leader in the licensing of hydroelectric facilities.
“This immediately accretive acquisition furthers TRC’s strategy to expand our role as a leading outsource provider for infrastructure services to the power industry,” said Dick Ellison, TRC’s Chairman and CEO. “The need to improve the nation’s long-neglected electrical and natural gas transmission systems is expected to grow at a substantial rate for the next 5 to 10 years. E/PRO is particularly attractive because its management and staff are well known with utilities throughout the country. TRC will provide the platform for their accelerated growth through our customers in the Northeast, as well as in other portions of the country.”
TRC provides technical, financial risk management and construction services to industry and government. The company’s main focus is in the areas of infrastructure improvements and expansions, environmental management, and information technology.