EMCOR Group, Inc. Acquires LT Mechanical of
Charlotte, NC
Acquisition Continues Growth and Expanded Client Service
Offerings in Southeast
NORWALK, CT, January 15, 2009 – EMCOR Group, Inc. (NYSE: EME), a Fortune 500 leader in mechanical and electrical construction, energy infrastructure and facilities services for a diverse range of businesses, today announced that it had acquired L.T. Mechanical, Inc., a leading mechanical and plumbing contractor and service provider headquartered in Charlotte, North Carolina. Terms of the transaction were not disclosed.
Founded in 1993, LT Mechanical performs sheet metal, piping, and plumbing installation and service for commercial projects, public projects, schools, institutional and healthcare facilities in the Charlotte area as well as throughout North and South Carolina.
LT Mechanical will be joined with EMCOR Services Aircond, an EMCOR mechanical services company in the Southeast. Based in Smyrna, Georgia, EMCOR Services Aircond is the leading commercial and industrial heating, ventilating, and air-conditioning (HVAC) mechanical service company in the region.
"We are excited about the skills and synergies that LT Mechanical brings to EMCOR Services Aircond. We will now be able to offer our clients an even greater array of added value services," stated Terry Mimnaugh, President of EMCOR Services Aircond. "With this acquisition, EMCOR Services Aircond will be the largest mechanical services focused contractor in the Southeast that is not owned by an equipment manufacturer, and our clients will benefit from Aircond's many technical capabilities."
"We are delighted to become part EMCOR and the EMCOR Services Aircond team," said Larry Oehler, one of the founders and President of LT Mechanical. "LT Mechanical has a tradition of performance and client service that is a perfect match with EMCOR's culture. We are all very excited about the future and continuing to serve our clients with excellence."
About EMCOR Group, Inc.
A Fortune 500 company with estimated 2008 revenues of $6.8 - $7.0 billion, EMCOR Group, Inc. (NYSE: EME) is a global leader in mechanical and electrical construction, energy infrastructure, and facilities services. EMCOR gives life to new structures and sustains life in existing ones by its planning, installing, operating and maintaining the sophisticated and dynamic systems that create facility environments---such as electrical, mechanical, lighting, air conditioning, heating, security and power generation systems---in virtually every sector of the economy and for a diverse range of businesses around the world. EMCOR represents a rare combination of reach with local execution, combining the strength of an industry leader with the knowledge and care of 170 locations worldwide. The 30,000 skilled employees of EMCOR have made the company, in the eyes of leading business publications, amongst America's "Most Admired" and "Best Performing." EMCOR's diversity---in terms of the services it provides, the industries it serves and the geography it spans---has enabled it to create a stable platform for sustained results. The Company's strong financial position has enabled it to attract and retain among the best local and regional talent, to undertake and complete the most ambitious projects, and to redefine and shape the future of the construction and facilities services industry. Additional information on EMCOR can be found at www.EMCORGroup.com.
This release may contain certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Any such comments are based upon information available to EMCOR management's perception thereof, as of this date, and EMCOR assumes no obligation to update any such forward-looking statements. These forward-looking statements may include statements regarding market opportunities, market share growth, gross profit, project mix, projects with varying profit margins, and selling, general and administrative expenses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly these statements are no guarantee of future performance. Such risk and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity, mix of business, and risks associated with foreign operations. Certain of the risks and factors associated with EMCOR's business are also discussed in the Company's 2007 Form 10-K, its Form 10-Q for the third quarter ended September 30, 2008, and in other reports filed from time to time with the Securities and Exchange Commission. All these risks and factors should be taken into account in evaluating any forward-looking statements.
FOR:
EMCOR GROUP, INC.
CONTACT:
Mava Heffler
Vice President, Marketing & Communications
203-849-7814
Bruce Ross Associates
Media: Bruce Ross – 212.768.1155
