Advertisement
Comfort Systems USA To Acquire Summit Industrial Construction For Undisclosed Terms
(RTTNews) - Comfort Systems USA, Inc. (FIX) announced Tuesday that it has entered into a definitive agreement to acquire Houston, Texas-based Summit Industrial Construction, LLC. The transaction is currently expected to close in the first quarter of 2024.
Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors.
Initially, Summit is expected to contribute annualized revenues of approximately $360 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $30 million to $45 million.
In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025.
Asian Shares Mostly Higher Despite Weak Wall Street Cues
Canadian Dollar Climbs Against Most Majors
NZ Dollar Advances Against Most Majors
Australian Dollar Rises Against Majors
German Factory Orders Log Unexpected Fall
European Shares Seen Higher At Open
Sensex, Nifty Little Changed In Early Trade
