EMCOR Group, Inc. Completes Acquisition of RepconStrickland
Augments Offering to North American Refinery and Petrochemical Markets
NORWALK, Conn. -- July 29, 2013
EMCOR Group, Inc. (NYSE: EME) today announced that it has completed its
acquisition of RepconStrickland, Inc. (“RepconStrickland”) for a purchase
price of approximately $455 million in cash, as previously announced.
Headquartered in La Porte, TX and Corpus Christi, TX, RepconStrickland has a
36-year history as one of the preeminent U.S. industrial and refinery service
companies. With a track record of superior project execution and an
industry-leading safety record, RepconStrickland is a leader in executing
turnarounds for critical process units.
Tony Guzzi, President and Chief Executive Officer of EMCOR Group, commented,
“We are pleased to have successfully completed the acquisition of
RepconStrickland. Supported by its five recognized brands, RepconStrickland
has strong managerial teams and an industry-leading safety record, with a
focus on accountability and results for their customers. The combination of
RepconStrickland and our existing Ohmstede operations provides us additional
access to high-margin, high-growth industrial markets that will enhance our
earnings power and help fulfill many of our strategic goals for 2013 and
EMCOR Group, Inc. is a Fortune 500 worldwide leader in mechanical and
electrical construction services, industrial and energy infrastructure and
facilities services. This press release and other press releases may be viewed
at the Company's Web site at www.emcorgroup.com.
This release may contain certain forward-looking statements within the meaning
of the Private Securities Reform Act of 1995. Any such comments are based upon
information available to EMCOR management and its perception thereof, as of
this date, and EMCOR assumes no obligation to update any such forward-looking
statements. These forward-looking statements may include statements regarding
market opportunities, market share growth, gross profit, backlog mix, projects
with varying profit margins, and selling, general and administrative expenses.
These forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking statements.
Accordingly these statements are no guarantee of future performance. Such risk
and uncertainties include, but are not limited to, adverse effects of general
economic conditions, changes in the political environment, changes in the
specific markets for EMCOR's services, adverse business conditions,
availability of adequate levels of surety bonding, increased competition,
unfavorable labor productivity and mix of business. Certain of the risks and
factors associated with EMCOR's business are also discussed in the Company's
2012 Form 10-K and in other reports filed from time to time with the
Securities and Exchange Commission. All these risks and factors should be
taken into account in evaluating any forward-looking statements.
EMCOR Group, Inc.
R. Kevin Matz, 203-849-7938
Executive Vice President
FTI Consulting, Inc.
Nathan Elwell / Matt Steinberg, 212-850-5600
Linden Alschuler & Kaplan, Inc.
Lisa Linden / Mollie Fullington, 212-575-4545 / 917-346-6123
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