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EMCOR Group announces agreement to acquire RepconStrickland

EMCOR Group announced that it has entered into a definitive agreement to acquire RepconStrickland. EMCOR is acquiring the privately held company in an all cash transaction valued at approximately $455M from its shareholders, including its majority shareholder, an affiliate of ArcLight Capital Partners, an energy focused private equity fund...RepconStrickland generated revenues of approximately $400M in 2012. The transaction is expected to close in early July...The acquisition of RepconStrickland is expected to be accretive to EMCOR’s earnings for the balance of 2013 by approximately 10c per share, excluding transaction expenses, with significantly accelerated earnings per share contribution in 2014. Estimated transaction costs are expected to be between $6M - $7M.