Comfort Systems USA, Inc. acquired MEP Holding Co., Inc. for $57.3 million.
January 04, 2022
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Comfort Systems USA, Inc. (NYSE:FIX) acquired MEP Holding Co., Inc. for $57.3 million on December 31, 2021. The total consideration included $45.2 million funded on the closing date, $7.6 million in notes payable to former owners, an earn-out that will be paid if certain financial targets are met after the acquisition date and a working capital adjustment. As a result of the acquisition, MEP Holdings is a wholly owned subsidiary of Comfort Systems USA, Inc. The acquisition is expected to make a neutral to slightly accretive contribution to earnings per share in 2022 and 2023.
Comfort Systems USA, Inc. (NYSE:FIX) completed the acquisition of MEP Holding Co., Inc. on December 31, 2021.
Comfort Systems USA, Inc. provides mechanical and electrical contracting services. The Company operates through two segments: Mechanical and Electrical. The Mechanical segment principally includes heating, ventilation and air conditioning (HVAC), plumbing, piping and controls, as well as off-site construction, monitoring and fire protection. This segment also installs connecting and distribution elements, such as piping and ducting. The Electrical segment includes installation and servicing of electrical systems. The Company builds, installs, maintains, repairs and replaces mechanical, electrical and plumbing (MEP) systems throughout its approximately 44 operating units at 172 locations across the United States. It is also engaged in offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power and industrial sectors. It also provides mechanical construction services to the commercial and industrial sectors.
COMFORT SYSTEMS USA, INC. 
