Comfort Systems USA Announces Acquisition

摘要

Comfort Systems USA, Inc. has announced that it has entered into a definitive agreement to acquire Tennessee Electric Company, Inc. dba T E C Industrial Construction and Maintenance ("T E C") headquartered in Kingsport, Tennessee. T E C was founded in 1947 and provides multidisciplined construction and industrial services including electrical, mechanical and other plant services primarily in Tennessee and surrounding states. Initially, T E C is expected to contribute annualized revenues of approximately $90 million to $100 million, and earnings before interest, taxes, depreciation and amortization of $8 million to $9 million. In light of the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a with unique industrial construction and plant service expertise have joined Comfort Systems USA. T E C has remarkable capabilities and relationships with complex industrial clients, and I am confident that we and they can benefit from collaboration, training and continued investment in their people and business."