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>>> Comfort Systems USA Announces Acquisition


Business Wire

Feb 2, 2024


https://finance.yahoo.com/news/comfort-systems-usa-announces-acquisition-130000094.html


- Acquires Utah’s J & S Mechanical Contractors, Inc. -

HOUSTON, February 02, 2024--(BUSINESS WIRE)--Comfort Systems USA, Inc. (NYSE: FIX) (the "Company") today announced that it has acquired J & S Mechanical Contractors, Inc. ("J & S") headquartered in West Jordan, Utah.

J & S was founded in 1976 and provides mechanical construction services to commercial and industrial sectors across the Mountain West region of the United States. J & S works on many of the largest and most technical construction projects in their region. Initially, J & S is expected to contribute annualized revenues of approximately $145 million to $160 million, and earnings before interest, taxes, depreciation, and amortization of $12 million to $15 million. In light of the amortization expense, J & S is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025.

Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, "We are extremely happy to announce that J & S is now a part of the Comfort Systems USA family of companies. J & S has deep roots and a strong reputation in Utah for providing extraordinary outcomes for its customers in industrial, institutional, and commercial markets. This partnership will increase our commitment to the vibrant markets of the Intermountain West, as J & S brings excellent expertise, capability, and leadership at all levels. J & S has earned its tremendous reputation and solid customer relationships thanks to its formidable workforce, and we are confident that the people of J & S will thrive as a part of our family of similar businesses."

Jack Jensen, President of J & S, commented, "We believe that Comfort Systems USA shares our core beliefs, including strong performance for our customers, growth and opportunity for our employees, and honesty and integrity in our daily business. We are happy to embark on this new stage in our development and we are committed to continuing to serve, innovate, grow, and thrive in both Utah and Nevada." Justin Barlow, Executive Vice President of J & S, added, "We chose Comfort Systems USA as the best answer for us to preserve our founders’ legacy of excellence and commitment to our community, while providing a bright future for our unmatched team members. We look forward to a strong partnership for our collective future."

Comfort Systems USA® is a leading provider of commercial, industrial, and institutional heating, ventilation, air conditioning and electrical contracting services, with 172 locations in 131 cities across the nation.

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