Comfort Systems USA Announces Acquisition of Summit Industrial Construction

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announced its agreement to acquire Summit Industrial Construction, LLC, a specialty industrial mechanical contractor, for an expansion of its modular construction offerings. The acquisition is expected to close in the first quarter of 2024 and is anticipated to contribute annualized revenues of approximately $360 million to $400 million, with EBITDA of $30 million to $45 million. The transaction is expected to have a neutral to slightly accretive impact on Comfort Systems USA's earnings per share in 2024 and 2025.

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About Comfort Systems USA, Inc.

Comfort Systems USA, Inc. is a leading provider of mechanical systems and services in the United States. Primarily, the company focuses on the design, installation, and maintenance of heating, ventilation, and air conditioning (HVAC) systems for a variety of clients, including commercial, industrial, and institutional sectors. Comfort Systems USA holds a significant presence in the market thanks to its ability to deliver comprehensive solutions across diverse environments. Notably, the company offers services ranging from routine maintenance to complex system overhauls, addressing the specific needs of schools, healthcare facilities, industrial plants, and government buildings. Founded in 1997 and based in Houston, Texas, Comfort Systems USA has expanded its reach nationwide, mirroring the growing demand for energy-efficient and sustainable mechanical solutions. Its contributions extend beyond basic systems installation, highlighting an industry shift towards integrating technology and efficiency in building management systems. Comfort Systems USA continues to play a pivotal role in enhancing operational efficiencies for businesses while maintaining a commitment to environmental sustainability and building performance excellence.