M&A Deal Summary

TRC Acquires Lockheed Martin -Distributed Energy Solutions Business

On October 23, 2019, TRC acquired utilities company Lockheed Martin -Distributed Energy Solutions Business from Lockheed Martin

Acquisition Highlights
  • This is TRC’s 2nd transaction in the Utilities sector.
  • This is TRC’s 10th transaction in the United States.
  • This is TRC’s 1st transaction in Maryland.

M&A Deal Summary
Date 2019-10-23
Target Lockheed Martin -Distributed Energy Solutions Business
Sector Utilities
Buyer(s) TRC
Sellers(s) Lockheed Martin
Deal Type Divestiture

Target

Lockheed Martin -Distributed Energy Solutions Business

Bethesda, Maryland, United States
Lockheed's Distributed Energy Solutions (DES) is a commercial business principally engaged in providing distributed energy services to electric and gas utility customers. DES provides comprehensive services for energy efficiency, demand response, beneficial electrification, distributed energy resource management, data analytics, IT/OT systems integration & operation, cybersecurity, cloud and web services.

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Buyer(S) 1

Buyer

TRC

Windsor, Connecticut, United States
Category Company
Founded 1969
Sector Engineering
Revenue 414M USD (2015)
DESCRIPTION

TRC is a global firm providing environmentally focused and digitally powered solutions that address the local needs of clients in consulting, construction, engineering, and management services, combining science with the latest technology to devise solutions that stand the test of time. TRC’s nearly 6,000 professionals serve a broad range of public and private clients, steering complex projects from conception to completion to help solve the toughest challenges. TRC was formed in 1969 and is based in Windsor, Connecticut.

DEAL STATS #
Overall 10 of 25
Sector (Utilities) 2 of 3
Type (Divestiture) 3 of 3
State (Maryland) 1 of 1
Country (United States) 10 of 22
Year (2019) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-11 EC Source Services - Testing and Commissioning Division

Mesa, Arizona, United States

EC Source Services LLC (ECS) - Testing and Commissioning Division is well positioned to safely and reliably test and commission all EHV substation and transmission systems, as the final part of its turnkey EPC approach, and independently as part of direct award testing and commissioning services. Providing this final piece to our turnkey model prior to energization helps identify and eliminate unsafe, costly and untimely outages and downtime.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-25 Environmental Partners

Issaquah, Washington, United States

Environmental Partners, Inc. is a provider in environmental assessment, remediation, engineering, and liability management for industrial and commercial projects throughout the Pacific Northwest and United States. EPI offers a full suite of geo-environmental services for clients who need to address a property from identification of contamination through site assessment, remediation, regulatory closure and on to litigation for cost recovery. Environmental Partners, Inc. was founded in 1990 and is based in Issaquah, Washington.

Buy -

Seller(S) 1

SELLER

Lockheed Martin

Bethesda, Maryland, United States
Category Company
Founded 1912
Sector Aerospace
Employees122,000
Revenue 67.6B USD (2023)
DESCRIPTION
Entrance to Lockheed Martin's corporate campus in Bethesda, Maryland.
Entrance to Lockheed Martin's corporate campus in Bethesda, Maryland.

Lockheed Martin is an aerospace and defense company that engages in the research, design, development, manufacture, integration, and sustainment of advanced technology systems and products worldwide. Lockheed Martin was established in 1912 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 7 of 7
Sector (Utilities) 1 of 1
Type (Divestiture) 5 of 5
State (Maryland) 1 of 1
Country (United States) 6 of 6
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-08 Industrial Defender

Foxborough, Massachusetts, United States

Industrial Defende provides a fully automated solution to discover, track and report on assets across your ICS footprint. Industrial Defender ASM is a management platform designed to address the overlapping requirements of cybersecurity, compliance, and change management for Industrial Control Systems (ICS). A “single pane of glass” that provides asset visibility, vulnerability monitoring, tracking, configuration, policy control, and reporting for industrial endpoints from multiple vendors. Industrial Defender is based in Foxborough, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-09 Integration Innovation

Huntsville, Alabama, United States

Integration Innovation, Inc. is a software engineering, systems integration, hypersonics development, information technology, and training support services company. Integration Innovation was established in 2007 and is based in Huntsville, Alabama.

Buy -
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