Emcor to acquire USM
Norwalk, Conn. -- Construction and engineering company Emcor Group Inc said it agreed to buy privately owned USM Services Holdings Inc from Transfield Services Ltd. for $255 million in cash to broaden its position in the facilities and maintenance services business.
“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 trades services,” said Tony Guzzi, president and CEO, Emcor. “In an environment in which customers are increasingly looking to centralize their outsourcing with a quality provider, we will together offer a compelling, comprehensive value proposition that is unmatched in the marketplace."
The acquisition is expected to close by the end of June.