Comfort Systems USA To Acquire Summit Industrial Construction For Undisclosed Terms

RTTNews | 582 dias atrás
Stocktwits
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.

Etiquetas: FIX
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