Parsons acquires environmental cleanup tech provider for $36M

Gettyimages.com / Sarayut Thaneerat
Parsons is looking to enhance its offerings for government and infrastructure customers looking to remove hazardous and toxic materials.
Parsons Corp. has acquired environmental remediation technology provider TRS Group for approximately $36 million in a move to further build out offerings for removing what are commonly called “forever chemicals.”
TRS Group opened for business in 2000 to support projects involving the remediation of per- and polyfluoroalkyl substances, also known as PFAS chemicals, that are widely viewed as hazardous to the environment.
“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,” Parsons’ chief executive Carey Smith said in a release. “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."
Centreville, Virginia-headquartered Parsons has increasingly emphasized commonalities between its federal technology solutions and critical infrastructure segments as a key leg of its approach to acquisitions.
TRS designs its technology to remove hazardous and toxic materials from soil, groundwater, fire suppression systems and bedrock surfaces. TRS is also the exclusive licensee in North America of the PerfluorAd cleaning and separation agent.
Parsons describes the PFAS removal market as being driven by the fact that 34 states have restrictions on those chemicals. Parsons sees demand for that line of work from entities such as industrial companies, airports, the Defense Department and Environmental Protection Agency.
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