TRC Announces Acquisition of the Payne Firm; Terms Not Disclosed

TRC Companies, Inc. (NYSE: TRR) today announced that it has acquired the Payne Firm, Inc.. Payne is a privately held environmental consulting firm that provides full life-cycle services to the legal and financial communities and industries ranging from manufacturing and healthcare to higher education. Payne's net service revenue for calendar year 2010 was approximately $4.7 million. The acquisition is expected to be immediately accretive.

Financial terms of the transaction, which included a mixture of cash and common stock, were not disclosed.