EMCOR Acquires Gaston Electrical For Undisclosed Sum
EMCOR Group, Inc. (NYSE: EME) has acquired Gaston Electrical Co., LLC, headquartered in Norwood, Massachusetts. Deal terms were not disclosed.
Founded in 1934, Gaston is a full-service electrical construction and low voltage contractor. It designs, installs, constructs, and maintains electrical and low voltage systems in various projects.
For FY22, Gaston estimates revenues of ~$140 million and remaining unsatisfied performance obligations of ~$120 million.
This acquisition will strengthen EMCOR's specialty construction services operations in the Greater Boston area.
Dan Fitzgibbons, President, and CEO of EMCOR's Electrical Construction Services Segment, commented, "We are pleased to expand our footprint in the Northeast with the addition of the Gaston team. This group brings important capability and expertise in servicing many of EMCOR's core end markets, including life sciences facilities and data centers."
EME held cash and cash equivalents of $262.37 million as of June 30, 2022.
Price Action: EME shares are trading higher by 0.02% at $114.86 on the last check Tuesday.
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