M&A Deal Summary

Warburg Pincus Acquires TRC Companies

On October 14, 2021, private equity firm Warburg Pincus acquired engineering company TRC Companies, Inc. from New Mountain Capital

Acquisition Highlights
  • This is Warburg Pincus’ 1st transaction in the Engineering sector.
  • This is Warburg Pincus’ 211th transaction in the United States.
  • This is Warburg Pincus’ 4th transaction in Connecticut.

M&A Deal Summary

Date 2021-10-14
Target TRC Companies, Inc.
Sector Engineering
Buyer(s) Warburg Pincus
Sellers(s) New Mountain Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Kirkland & Ellis LLP (Legal)

Target

TRC Companies, Inc.

Windsor, Connecticut, United States
website
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.

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Buyer(S) 1

Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 89.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 419 of 429
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 55 of 55
State (Connecticut) 4 of 4
Country (United States) 211 of 217
Year (2021) 13 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-13 Beacon Platform, Inc.

New York, New York, United States

Beacon is a cloud-based platform for quant development that enables users to build custom trading and risk management applications. The integrated development environment and a web application framework make developing applications faster and easier. Beacon was founded in 2014 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-18 Nexera Holding LLC

Emeryville, California, United States

Newfi Lending is a national mortgage lender reshaping the borrowing experience through a combination of proprietary technology and product innovation. The company delivers a more efficient and transparent process resulting in lower costs and higher levels of customer satisfaction and trust. Newfi Lending was formed in 2014 and is based in Emeryville, California.

Sell -

Seller(S) 1

SELLER

New Mountain Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 2000
PE ASSETS 20.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 40 of 43
Sector (Engineering) 1 of 1
Type (Secondary Buyout) 10 of 11
State (Connecticut) 3 of 3
Country (United States) 37 of 40
Year (2021) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-03 Bounteous

Chicago, Illinois, United States

Bounteous delivers comprehensive strategy, customer experience, engineering, eCommerce, analytics, and digital marketing solutions to leading Fortune 1000 companies. The company helped build Domino’s Pizza into one of the world’s most successful eCommerce brands and serves as the agency of record for Domino’s Canada. Bounteous was formed in 2003 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Profile Products LLC

Buffalo Grove, Illinois, United States

Profile offers environmentally sound, site-specific solutions for soil modification, horticultural production, erosion control, and plant establishment. As a manufacturer of hydraulically applied mulch and additives, horticulture substrates, as well as biotic and ceramic conditioners to amend the soil, the company offers on-site solutions and consultation to architects, land planners, contractors, developers, and municipalities. Their team of agronomists, engineers and industry experts is supported through a worldwide network of experienced distributors. Profile was founded in 1997 and is based in Buffalo Grove, Illinois.

Buy -