Filings: NRC Group moves from Long Island to Texas

NRC Group Holdings Corp., a global provider of environmental cleanup services to the oil industry, has moved its headquarters from Great River to Houston, according to government filings.

The move follows a series of acquisitions, a public stock listing and recent executive turnover.

NRC, with 1,564 employees worldwide as of Dec. 31, did not immediately respond to requests for comment. It was unclear how many Long Island employees would be affected by the revised status of the Great River facility.

Shares of NRC Group rose 0.36 percent to $8.46 at the close of trading Monday. 

In March 2012, J.F. Lehman & Co., a Manhattan private equity firm, acquired Great River-based National Response Corp., founded in 1992. In May 2015, J.F. Lehman acquired a controlling interest in another environmental services company, Houston-based Sprint Energy Services LP.

The two acquisitions were merged under the National Response Corp. umbrella and sold to Wilson, Wyoming-based shell company Hennessy Capital Acquisition Corp. III for $662.5 million in cash and stock in a transaction announced in June.

When that deal was announced, a Hennessy spokesman said NRC's headquarters would remain in Great River.

After the sale closed, Hennessy changed its name to NRC Group Holdings and the company began trading on the NYSE American  exchange under the symbol NRCG.

In February, the company announced that Paul Taveira, president of NRC Group Holdings, had resigned from all positions with the company as part of "ongoing efforts to further integrate the business and drive operational efficiencies." 

On Friday, the company announced that it had appointed Brad Dugas as senior vice president, waste disposal services, following the resignation on April 8 of Robert V. Nelson III as president of waste disposal services.

NRC Group, which has worked on cleanup efforts such as the BP Deepwater Horizon oil spill in the Gulf of Mexico in 2010, also provides environmental and cleanup services to industrial, marine and rail transportation customers.

NRC Group was listing its "principal executive offices" as 3500 Sunrise Hwy., Great River, on Securities and Exchange Commission filings as recently as February, but in March switched to Houston. The company, however, used a "New York" dateline on a recent news release.

In the quarter ended Dec. 31, NRC reported that revenue increased 15 percent to $107.3 million compared to the prior year's period. Net loss was $45.8 million, or $1.83 per share, compared to net income of $7.7 million, or 35 cents per share in the previous year. Excluding one-time deal-related costs, however, net income was $2.2 million, or 9 cents per share in the December quarter.

By Ken Schachter

kenneth.schachter@newsday.comkschach

Ken Schachter covers corporate news, including technology and aerospace, and other business topics for Newsday. He has also worked at The Miami Herald and The Jerusalem Post.