Warburg Pincus Aims for $3B Valuation With Sale of TRC, FT Says

Warburg Pincus has put business services firm TRC Companies up for sale and is aiming for a valuation of more than $3 billion, the Financial Times reported Sunday.

The private equity firm has hired Harris Williams, UBS Group AG and AEC Advisors to sell engineering and construction management firm TRC, according to the newspaper. The FT said several potential PE buyers have been approached as part of the auction process, which was launched in recent weeks.

Warburg Pincus has been offloading assets to a mix of strategic and sponsor buyers this year. Recent deals have included the multibillion-dollar sales ...