Emcor to acquire facilities maintenance specialist

Mechanical & electrical (M&E) contractor Emcor has agreed to acquire North American facilities maintenance company USM from Australian industrial service provider, Transfield Services in a US$ 255 million all-cash transaction.

USM is headquartered in Norristown, Pennsylvania, US and has annual revenues of US$ 375 million. The company provides a range of facilities maintenance services including electrical, mechanical and plumbing work to some 150 customers, each of which have more than 100 sites themselves. This means USM is active through a network of 11000 service partners on over 75000 sites across the US and Canada.

Emcor president & CEO Tony Guzzi said, "Our two businesses are highly complementary to each other, as USM is a leader in predictive scheduled interior and exterior maintenance services, while Emcor leads the market in providing site-based and mechanical services and other electrical and mechanical trade services. In an environment in which customers are increasingly looking to centralise their outsourcing with a quality provider, we will together offer a compelling, comprehensive value proposition that is unmatched in the market place."

The deal is expected to close towards the end of June, subject to regulatory approval. Emcor will fund the acquisition from cash flow.