HOUSTON--(BUSINESS WIRE)--Comfort Systems USA, Inc. (NYSE: FIX), a leading provider of commercial, industrial and institutional heating, ventilation, air conditioning and electrical contracting services, today announced that it has closed its previously announced transaction to acquire Walker TX Holding Company, LLC and its related subsidiaries headquartered in Irving, Texas.
Walker provides commercial electrical, network, end-user, industrial and related services in Texas. Walker has offices and operations in the Dallas/Fort Worth area, Houston, San Antonio and Austin and has helped to build many of the largest and most complex projects in the State of Texas.
Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are extremely happy to announce the closing of the Walker acquisition, extending our family of companies and lines of business in the State of Texas. Walker has an exceptional reputation as a premier electrical contractor, providing outstanding outcomes for its customers in the mission critical, hospitality, healthcare and industrial markets. We look forward to our strong partnership and future prospects together.”
As previously disclosed, initially Walker is expected to contribute annualized revenue of approximately $325 million to $375 million, and earnings before interest, taxes, depreciation and amortization of $20 million to $25 million. In light of the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a neutral to slightly accretive contribution to earnings per share during the first 18 to 24 months after the acquisition.
Comfort Systems USA® is a premier provider of business solutions addressing workplace comfort, with 132 locations in 115 cities around the nation. For more information, visit the Company’s website atwww.comfortsystemsusa.com.