Alliant Energy Corp.‘s renewable energy subsidiary RMT Inc. has agreed to sell its Environmental Business unit to TRC Companies Inc., a national engineering, consulting, and construction management firm, for $ 13.3 million in cash.
Madison-based Alliant (NYSE: LNT), which also operates regulated utilities in Madison and Cedar Rapids, Iowa, said Monday that the transaction allows RMT to focus solely on providing siting, permitting, engineering, and construction services to the renewable energy infrastructure market, including wind, solar, and geothermal energy. RMT will also continue to target facility siting and engineering work.
The Environmental Business unit specializes in consulting, development, engineering and construction through remediation and restoration; environmental, health and safety management; air pollution control; and solid waste management offerings. The unit, which consists of approximately 200 consultants and 10 primary locations, has projected revenue for 2011 of approximately $ 27 million, according to Lowell, Mass.-based TRC (NYSE: TRR).