TRC Acquires Distributed Energy Solutions Group of Lockheed Martin
TRC Companies, a leading technology-enabled provider of end-to-end engineering, consulting and construction management solutions, has expanded its utility services capabilities with the close of the acquisition of Lockheed Martin Distributed Energy Solutions (LM-DES). TRC is supported by New Mountain Capital.
LM-DES meets the diverse needs of electric and gas utilities with a portfolio of demand management solutions delivering reliable energy savings, enhanced grid security, and customer satisfaction. LM-DES has more than 20 years of experience implementing energy efficiency programs for over 50 of the largest electric and natural gas utilities in the US. LM-DES offers expertise in technology, engineering, operations, marketing, and systems integration management; and it support utilities with cost-effective, forward-thinking programs that transform customer energy use.
"LM-DES is a premier provider of distributed energy solutions, with a robust history of serving commercial and industrial clients along with many of the nation's top utilities," said TRC CEO Chris Vincze. "This acquisition positions us to capitalize on a fast-evolving energy market and continue to meet the growing needs of our clients. The move reinforces our strategic growth strategy and advances our ability to deliver innovative, fully integrated solutions for any Advanced Energy project."
LM-DES is based in Rockville, Maryland, and currently serves many of the nation's top electric and gas utilities. LM-DES prides itself on developing energy efficiency, IT outsourcing, beneficial electrification and demand response/DERMS solutions.
"TRC is a great strategic fit for LM-DES. TRC's strong reputation in the utility industry and focus on supporting customers with integrated engineering and design solutions, including value-add technologies, fits well with LM-DES's focus and capabilities," said Roger Flanagan, who joins TRC from LM-DES as Senior Vice President, Advanced Energy.
With the acquisition of LM-DES, TRC adds just over 400 employees and increases its presence in California, Colorado, Maryland, Missouri, Oregon, New York, and several states in New England. The addition positions TRC as one of the leading players in the advanced energy market.
"LM-DES's capabilities and technologies are a great strategic fit for TRC, enabling us to serve our power clients more broadly. This acquisition strengthens our already robust Advanced Energy offerings and further cements our team as a leading, full-service engineering and consulting partner," said Jim Mayer, TRC's President, Power Sector. "With a wide regional presence and outstanding relationships in the power market, the LM-DES acquisition is another positive development for our clients."