Emcor Group, Inc. (EME) on Wednesday said it closed the purchase of Ohmstede, Ltd. for nearly $455 million in cash. Headquartered in Beaumont, Texas, Ohmstede is a provider of aftermarket maintenance and repair, replacement parts and fabrication services.
Commenting on the deal, Frank MacInnis, Chairman and Chief Executive Officer of Emcor, said, The purchase of Ohmstede allows EMCOR to expand its presence in the industrial sector, a market with strong secular drivers and good growth prospects. Ohmstede performs mission-critical services for its customers, with the majority of its revenue coming from recurring and highly visible rebuild, repair, and maintenance work in addition to fabricating and installing highly engineered equipment.
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