Parsons Corp. has acquired TRS Group, Inc., in an all-cash transaction valued at $36 million.
TRS Group is an environmental solutions firm specializing in remediation technology, benefiting both Parsons’ Federal Solutions and Critical Infrastructure segments, the company said.
“The acquisition of TRS Group significantly enhances Parsons’ environmental remediation capabilities in both of our operating segments and serves as a force multiplier for our already industry-leading PFAS remediation solutions,” said Carey Smith, president and CEO of Parsons. “We are thrilled to welcome the talented TRS employees into the Parsons family and are eager to harness the synergies between our cultures of innovation, discovery, and commitment to improving societal health.”
Founded in 2000, TRS Group specializes in environmental remediation, removing hazardous and toxic substances like per- and polyfluoroalkyl substances, or PFAS, from soil, groundwater and fire suppression systems. The company completed over 160 in situ thermal remediation projects for global clients.
TRS also provides labor and technical solutions for complex engineering challenges and is the exclusive North American licensee of PerfluorAd technology. PerfluorAd is used in oil and gas, petrochemicals, manufacturing and federal, state and municipal government sectors.
“As we join forces, our collective goal is to lead the industry in creating impactful, sustainable projects that benefit communities and preserve natural resources,” said Brett Trowbridge, TRS Group president and CEO. “Together, we will leverage our combined expertise to create solutions that not only meet the demands of our clients but also create a better and safer future.”