EMCOR Group, Inc. Announces Agreement To Acquire ECM
- Nationwide Leading Provider of Energy Conservation Technologies and Project Solutions -
NORWALK, CONNECTICUT, July 5, 2023 – EMCOR Group, Inc. (NYSE: EME) today announced that it has entered into a definitive agreement to acquire ECM Holding Group, Inc. (“ECM”), a leading national energy efficiency specialty services firm, in an all-cash transaction. Terms of the transaction were not disclosed.
Founded in 2009, and headquartered in Oshkosh, Wisconsin, ECM is a leading national provider of energy efficiency retrofit services, with specific business units dedicated to offering a variety of HVAC, lighting, water, weatherization, and airflow management solutions. With 2023 estimated revenues of $60 million, ECM’s innovative turn-key energy conservation solutions are delivered cost-effectively with third party-reviewed energy projections, professional project management, and a comprehensive measurement and verification program.
Mike Bordes, President, and Chief Executive Officer of EMCOR Building Services commented, “ECM further strengthens EMCOR’s position in energy efficiency specialty services and expands our nationwide bundled energy conservation and sustainability solutions portfolio. Additionally, the leadership team of ECM brings a wealth of experience in serving Energy Services Companies (ESCOs) to EMCOR, including deep relationships with some of the nation’s largest commercial and industrial companies. Furthermore, ECM’s ability to identify, validate, and self-implement multiple energy conservation measures offers a streamlined and replicable approach for our customers to achieve their sustainability goals.”
“Joining a proven industry leader in EMCOR that shares our commitment to operational excellence, customer loyalty and employee safety is a great opportunity for everyone at ECM,” stated Erik Larson, Chief Executive Officer of ECM. “EMCOR is a natural home for ECM, and we look forward to delivering sustainable growth and exceptional customer value as part of EMCOR.”
The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions.