EMCOR (EME) has entered into a definitive agreement to sell EMCOR Group UK plc, the United Kingdom building services segment, to OCS Group UK for $255 million at current exchange rates. The transaction is expected to be accretive to EMCOR's operating margin profile.
"With the sale of EMCOR UK, we are accelerating our 'local execution, national reach' strategy to further focus our business across our large, diverse and attractive end markets in the United States, where we continue to see significant opportunity," said Tony Guzzi, Chairman, President and CEO.
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