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Comfort Systems Agrees to Acquire Florida Mechanical Contractor BCH Holdings.

M2 EQUITYBITES-February 24, 2017-Comfort Systems Agrees to Acquire Florida Mechanical Contractor BCH Holdings


24 February 2017 - US-based heating, ventilation and air conditioning services provider Comfort Systems USA, Inc. (NYSE: FIX) has entered into a definitive agreement to acquire the US-based mechanical contractor BCH Holdings, Inc., the company said.

Terms of the deal were not disclosed.

Headquartered in Tampa, Florida BCH is a regional mechanical contractor based in Tampa, Florida. BCH engages in a broad range of mechanical contracting projects and services in Central Florida, and conducts service operations in ten states throughout the southeast.

Initially BCH is expected to contribute annualised revenues of approximately USD 100m to USD 110m at profitability levels that are generally equal to or above those currently experienced by existing Comfort Systems USA operations.

The transaction is expected to close on or about 1 April 2017 and is subject to customary closing conditions, including expiration or termination of the limitations imposed under the Hart-Scott-Rodino Act.

In light of the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a neutral to slightly accretive contribution to earnings per share during the first 12 to 18 months after the acquisition.

Comfort Systems USA has 91 locations in 84 cities around the nation.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U5FL
Date:Feb 24, 2017
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