TRC Stockholders Approve Merger With Affiliates of New Mountain Capital

6/9/17

LOWELL, Mass., June 08, 2017 (GLOBE NEWSWIRE) -- TRC Companies, Inc. (NYSE:TRR), a recognized leader in engineering, environmental consulting and construction-management services, today announced that TRC stockholders adopted the definitive merger agreement with affiliates of New Mountain Partners IV, L.P. dated as of March 30, 2017, with approximately 85.0 percent of shares outstanding and entitled to vote as of the record date cast in favor of the proposal at the special stockholders’ meeting.

As announced on March 31, 2017, TRC and certain affiliates of NMC, an investment fund managed by New Mountain Capital, L.L.C., entered into a definitive merger agreement under which such affiliates of NMC would acquire TRC in an all-cash transaction valued at $17.55 per share of TRC’s outstanding common stock. TRC stockholder approval was a condition to the merger. With approval by TRC stockholders, TRC and NMC expect to complete the transaction later this month.

About TRC

A pioneer in groundbreaking scientific and engineering developments since the 1960s, TRC (www.TRCsolutions.com) is a national engineering, environmental consulting and construction management firm that provides integrated services to the power, environmental, infrastructure and oil and gas markets. TRC serves a broad range of commercial, industrial and government clients, 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. TRC trades on the NYSE under the symbol TRR. Follow us on Twitter and StockTwits at @TRC_Companies and on LinkedIn.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity and credit funds with approximately $15 billion in aggregate capital commitments. New Mountain Capital seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com.

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