Emcor closes USD455m purchase of RepconStrickland.
30 July 2013 a[euro]" US construction services company Emcor Group Inc (NYSE:EME) has finalised its USD455m (EUR343m) cash deal to acquire industrial and refinery services provider RepconStrickland Inc.
The addition of Texas-based RepconStrickland opens new opportunities for Emcor in high-margin, high-growth industrial markets, Emcor president and CEO Tony Guzzi said. The acquisition places the company in a strong position to boost its earnings and achieve many of its strategic objectives for this year and beyond, he added.
Emcor announced the definitive purchase agreement on 17 June 2013. Prior to the closure of the deal, RepconStrickland was majority owned by private equity investor ArcLight Capital Partners LLC.
The buyer said at the time that the deal was expected to add about USD0.10 to its 2013 earnings per share and contribute even more to the 2014 figure.
JP Morgan Securities LLC provided financial advice to Emcor, while Harris Williams & Co did the same for RepconStrickland.Country: USASector: Petroleum/Natural Gas/CoalTarget: RepconStrickland IncBuyer: Emcor Group IncVendor: ArcLight Capital Partners LLCDeal size in USD: 455mType: Corporate acquisitionStatus: ClosedBuyer advisor: JP Morgan Securities LLC
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|Publication:||M & A Navigator|
|Date:||Jul 30, 2013|
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