Augments Offering to North American Refinery and Petrochemical Markets
July 29, 2013 10:40 AM Eastern Daylight Time
NORWALK, Conn.--( BUSINESS WIRE )--EMCOR Group, Inc. (NYSE: EME) today announced that it has completed its      acquisition of RepconStrickland, Inc. (“RepconStrickland”) for a      purchase price of approximately $455 million in cash, as previously      announced. Headquartered in La Porte, TX and Corpus Christi, TX, RepconStrickland      has a 36-year history as one of the preeminent U.S. industrial and      refinery service companies. With a track record of superior project      execution and an industry-leading safety record, RepconStrickland is a      leader in executing turnarounds for critical process units. Tony Guzzi, President and Chief Executive Officer of EMCOR Group,      commented, “We are pleased to have successfully completed the      acquisition of RepconStrickland. Supported by its five recognized      brands, RepconStrickland has strong managerial teams and an      industry-leading safety record, with a focus on accountability and      results for their customers. The combination of RepconStrickland and our      existing Ohmstede operations provides us additional access to      high-margin, high-growth industrial markets that will enhance our      earnings power and help fulfill many of our strategic goals for 2013 and      beyond.”
EMCOR Group, Inc. is a Fortune 500 worldwide leader in mechanical and      electrical construction services, industrial and energy infrastructure      and facilities services. This press release and other press releases may      be viewed at the Company's Web site 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 and      its 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, backlog 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      and mix of business. Certain of the risks and factors associated with      EMCOR's business are also discussed in the Company's 2012 Form 10-K 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. Contacts


EMCOR Group, Inc. Completes Acquisition of RepconStrickland

Advises RepconStrickland Inc. in its Sale to      EMCOR Group Inc.
July 29, 2013 02:47 PM Eastern Daylight Time
RICHMOND, Va.--( BUSINESS WIRE )-- Harris      Williams & Co. , a preeminent middle market investment bank      focused on the advisory needs of clients worldwide, announces the sale      of RepconStrickland Inc. (RepconStrickland), a premier provider of      recurring turnaround and specialty services to the North American      refinery, petrochemical and other process industries, to strategic buyer      EMCOR Group, Inc. (EMCOR; NYSE:EME) in an all cash transaction valued at      approximately $455 million. Harris Williams & Co. acted as the exclusive      advisor to RepconStrickland, a portfolio company of ArcLight Capital      Partners, LLC (ArcLight). The transaction closed on July 29, 2013 was      led by Drew Spitzer, Tiff Armstrong, Matt White, Chris Burnham and      Oliver Brooks from the firm’s Energy & Power (E&P) Group. The sale of RepconStrickland represents another successful transaction      for Harris Williams & Co. and adds to the Energy & Power Group’s leading      experience in the infrastructure services sector, which includes eight      completed transactions in the last 12 months and more than 25      transactions in total. “Over the past 35 years, RepconStrickland has grown to become the      preeminent provider of highly specialized, mission-critical turnaround,      maintenance and other specialty services to the nation’s leading      refiners, petrochemical plants and other processors,” said Drew Spitzer,      a managing director at Harris Williams & Co. “We are proud to have      represented RepconStrickland and ArcLight in this transaction.”
RepconStrickland’s leading market positions and well-known brands have      been developed through a long and consistent track record of delivering      specialized turnaround and maintenance services with superior project      execution, a highly skilled workforce and a best-in-class safety record. RepconStrickland has built a prominent reputation for performing      turnarounds and specialty services for the most critical units of      refineries, petrochemical plants and other process facilities. The      RepconStrickland platform is comprised of five specialized divisions      including Repcon, Inc., AltairStrickland Holdings, LLC, Turnaround      Welding Services, LLC, Diamond Refractory Services, LLC and Tiger Tower      Services, LLC. Repcon, Inc. is a leading provider of hydrofluoric alky      unit turnarounds, general turnarounds, specialty maintenance and      industrial construction services. AltairStrickland is a leading provider      of fluid catalytic cracking unit and coker unit turnarounds. Turnaround      Welding Services provides premium welding services on all grades of      steel, alloys and exotics. Diamond Refractory is a temperature/erosion      materials specialist providing refractory services and liners for      processing units and systems. Tiger Tower Services provides specialty      mechanical services for process columns and weld overlays, nozzle      installations and inspection services. ArcLight is an energy-focused private equity investment firm, having      invested more than $10 billion since its inception more than a decade      ago. Since its establishment in 2001, the firm has raised five funds      with cumulative capital commitments totaling $10.1 billion. ArcLight has      successfully sourced, managed and realized investments through multiple      energy industry cycles. The firm’s investment team has extensive energy      expertise, investing experience, industry relationships and specialized      asset level value creation capabilities. ArcLight is headquartered in      Boston, MA, with offices in New York and Luxembourg. EMCOR is a Fortune 500 worldwide leader in mechanical and electrical      construction services, industrial and energy infrastructure and      facilities services. Harris Williams & Co. ( www.harriswilliams.com ),      a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a      preeminent middle market investment bank focused on the advisory needs      of clients worldwide. The firm has deep industry knowledge, global      transaction expertise and an unwavering commitment to excellence. Harris      Williams & Co. provides sell-side and acquisition advisory,      restructuring advisory, board advisory, private placements and capital      markets advisory services. The firm’s E&P Group has experience across a broad range of sectors,      including oil and gas equipment and services, energy efficiency and      clean tech, industrial and infrastructure services, power products and      technology, engineering and construction and environmental services. For      more information on our energy and power experience, please contact Drew      Spitzer or Tiff Armstrong at +1 (804) 648-0072. Investment banking services are provided by Harris Williams LLC, a      registered broker-dealer and member of FINRA and SIPC, and Harris      Williams & Co. Ltd, which is authorized and regulated by the Financial      Conduct Authority. Harris Williams & Co. is a trade name under which      Harris Williams LLC and Harris Williams & Co. Ltd conduct business. For general release inquiries, please contact Julia Salatino, marketing      specialist, at +1 (804) 648-0072. Contacts


Harris Williams & Co. Advises RepconStrickland Inc. in its Sale to EMCOR Group Inc.

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June 17, 2013    2 Views    0 Comments
EMCOR Group of Norwalk, Conn., has entered into an agreement to acquire RepconStrickland, which offers turnaround and specialty services to the North American refinery and petrochemical markets. EMCOR, a mechanical and electrical construction services company, is buying RepconStrickland for $455 million in cash; the money will largely go to RepconStrickland’s majority shareholder, which is an affiliate of ArcLight Capital Partners, the energy-focused private equity fund. PRESS RELEASE:
EMCOR Group, Inc. (NYSE: EME) today announced that it has entered into a definitive agreement to acquire RepconStrickland, Inc. (“RepconStrickland”), a leading provider of recurring turnaround and specialty services to the North American refinery and petrochemical markets. EMCOR is acquiring the privately held company in an all cash transaction valued at approximately $455 million from its shareholders, including its majority shareholder, an affiliate of ArcLight Capital Partners, LLC, an energy focused private equity fund. “We firmly believe EMCOR is an excellent natural fit for RepconStrickland”
Headquartered in La Porte, TX and Corpus Christi, TX, RepconStrickland has a 36-year history as one of the preeminent U.S. industrial and refinery service companies. With a track record of superior project execution and an industry-leading safety record, RepconStrickland is a leader in executing turnarounds for critical process units. The RepconStrickland platform includes five recognized brands with capabilities encompassing a broad spectrum of turnaround and specialty services, including shutdowns, overhauls, revamps, capital projects, engineering and constructability reviews, project management, welding services, refractory services, tower services and emergency repair. RepconStrickland generated revenues of approximately $400 million in 2012. Tony Guzzi, President and Chief Executive Officer of EMCOR Group, commented, “The acquisition of RepconStrickland strengthens our position in the industrial and energy sectors which are attractive industries poised for future growth. RepconStrickland is an extremely well-run organization that provides turnaround and specialty services across North America, with a focus in the U.S. Gulf. The team has an outstanding reputation in the industry, from both managerial and safety perspectives, and will become a key asset to EMCOR going forward. RepconStrickland operates in markets adjacent to our existing Ohmstede operations, provides solid long-term growth potential, is resilient during down cycles and creates additional access to high-margin, high-growth markets that will help fulfill many of our strategic goals.”
“We firmly believe EMCOR is an excellent natural fit for RepconStrickland,” stated Bob Parker, President and Chief Executive Officer of RepconStrickland. “The prospect of working with a proven industry leader that shares our commitment to customer loyalty and safety, while maintaining our organizational structure, is a great opportunity for everyone at RepconStrickland. We are excited to join the EMCOR organization and look forward to partnering with the EMCOR and Ohmstede team to produce sustainable growth and exceptional customer value.”
The transaction is expected to close in early July, subject to customary closing conditions and regulatory approvals. The acquisition of RepconStrickland is expected to be accretive to EMCOR’s earnings for the balance of 2013 by approximately $0.10 per share, excluding transaction expenses, with significantly accelerated earnings per share contribution in 2014. Estimated transaction costs are expected to be between $6.0 million – $7.0 million. Mr. Guzzi concluded, “Supported by attractive industry drivers, RepconStrickland is well-positioned to grow organically through market share expansion of existing refinery customers and capitalizing on capacity expansions in the adjacent petrochemical industry. Given the complementary nature of its services, adding RepconStrickland to our existing operations will allow EMCOR to offer additional opportunities to its customers of turnaround services and heat exchangers, increase our overall customer responsiveness and maximize our labor and shop utilization. Furthermore, our prior successful integration of Ohmstede gives us the experience and confidence that RepconStrickland will transition quickly into our organization.”
J.P. Morgan Securities LLC is acting as financial advisor to EMCOR Group. Harris Williams & Co. is acting as the exclusive financial advisor to RepconStrickland. EMCOR Group, Inc. is a Fortune 500 worldwide leader in mechanical and electrical construction services, industrial and energy infrastructure and facilities services. This press release and other press releases may be viewed at the Company’s Web site at www.emcorgroup.com. Conference Call
A conference call to discuss EMCOR Group’s acquisition of RepconStrickland will be available live via internet broadcast today, Monday, June 17, at 5:00 PM Eastern Daylight Time. You can access the live call through the Home Page of the Company’s Web site 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 and its 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, backlog 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 and mix of business. Certain of the risks and factors associated with EMCOR’s business are also discussed in the Company’s 2012 Form 10-K 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. Leave a Reply


PE HUB » EMCOR Group to Acquire RepconStrickland

EMCOR Group to Acquire RepconStrickland
June 17, 2013
By Connie Loizos
EMCOR Group of Norwalk, Conn., has entered into an agreement to acquire RepconStrickland, which offers turnaround and specialty services to the North American refinery and petrochemical markets. EMCOR, a mechanical and electrical construction services company, is buying RepconStrickland for $455 million in cash; the money will largely go to RepconStrickland’s majority shareholder, which is an affiliate of ArcLight Capital Partners, the energy-focused private equity fund. PRESS RELEASE:
EMCOR Group, Inc. (NYSE: EME) today announced that it has entered into a definitive agreement to acquire RepconStrickland, Inc. (“RepconStrickland”), a leading provider of recurring turnaround and specialty services to the North American refinery and petrochemical markets. EMCOR is acquiring the privately held company in an all cash transaction valued at approximately $455 million from its shareholders, including its majority shareholder, an affiliate of ArcLight Capital Partners, LLC, an energy focused private equity fund. “We firmly believe EMCOR is an excellent natural fit for RepconStrickland”
Headquartered in La Porte, TX and Corpus Christi, TX, RepconStrickland has a 36-year history as one of the preeminent U.S. industrial and refinery service companies. With a track record of superior project execution and an industry-leading safety record, RepconStrickland is a leader in executing turnarounds for critical process units. The RepconStrickland platform includes five recognized brands with capabilities encompassing a broad spectrum of turnaround and specialty services, including shutdowns, overhauls, revamps, capital projects, engineering and constructability reviews, project management, welding services, refractory services, tower services and emergency repair. RepconStrickland generated revenues of approximately $400 million in 2012. Tony Guzzi, President and Chief Executive Officer of EMCOR Group, commented, “The acquisition of RepconStrickland strengthens our position in the industrial and energy sectors which are attractive industries poised for future growth. RepconStrickland is an extremely well-run organization that provides turnaround and specialty services across North America, with a focus in the U.S. Gulf. The team has an outstanding reputation in the industry, from both managerial and safety perspectives, and will become a key asset to EMCOR going forward. RepconStrickland operates in markets adjacent to our existing Ohmstede operations, provides solid long-term growth potential, is resilient during down cycles and creates additional access to high-margin, high-growth markets that will help fulfill many of our strategic goals.”
“We firmly believe EMCOR is an excellent natural fit for RepconStrickland,” stated Bob Parker, President and Chief Executive Officer of RepconStrickland. “The prospect of working with a proven industry leader that shares our commitment to customer loyalty and safety, while maintaining our organizational structure, is a great opportunity for everyone at RepconStrickland. We are excited to join the EMCOR organization and look forward to partnering with the EMCOR and Ohmstede team to produce sustainable growth and exceptional customer value.”
The transaction is expected to close in early July, subject to customary closing conditions and regulatory approvals. The acquisition of RepconStrickland is expected to be accretive to EMCOR’s earnings for the balance of 2013 by approximately $0.10 per share, excluding transaction expenses, with significantly accelerated earnings per share contribution in 2014. Estimated transaction costs are expected to be between $6.0 million – $7.0 million. Mr. Guzzi concluded, “Supported by attractive industry drivers, RepconStrickland is well-positioned to grow organically through market share expansion of existing refinery customers and capitalizing on capacity expansions in the adjacent petrochemical industry. Given the complementary nature of its services, adding RepconStrickland to our existing operations will allow EMCOR to offer additional opportunities to its customers of turnaround services and heat exchangers, increase our overall customer responsiveness and maximize our labor and shop utilization. Furthermore, our prior successful integration of Ohmstede gives us the experience and confidence that RepconStrickland will transition quickly into our organization.”
J.P. Morgan Securities LLC is acting as financial advisor to EMCOR Group. Harris Williams & Co. is acting as the exclusive financial advisor to RepconStrickland. EMCOR Group, Inc. is a Fortune 500 worldwide leader in mechanical and electrical construction services, industrial and energy infrastructure and facilities services. This press release and other press releases may be viewed at the Company’s Web site at www.emcorgroup.com. Conference Call
A conference call to discuss EMCOR Group’s acquisition of RepconStrickland will be available live via internet broadcast today, Monday, June 17, at 5:00 PM Eastern Daylight Time. You can access the live call through the Home Page of the Company’s Web site 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 and its 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, backlog 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 and mix of business. Certain of the risks and factors associated with EMCOR’s business are also discussed in the Company’s 2012 Form 10-K 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. © 2015 Buyouts Insider / Argosy Group LLC


EMCOR Group to Acquire RepconStrickland

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RepconStrickland is a specialty industrial services firm that primarily engages in the upgrade, repair, and maintenance of mission-critical operations in the oil refinery industry, including cracking and coker units.In July 2013, RepconStrickland was acquired by EMCOR Group. The valuation of RepconStrickland was $455. Other terms of the deal were not released.

RepconStrickland

EMCOR Group

Name	Work History	Title	Status
Bob Parker		Chief Executive Officer	Current
Scott Creasman		Chief Financial Officer	Current

Name	Bob Parker	Scott Creasman
Work History
Title	Chief Executive Officer	Chief Financial Officer
Status	Current	Current

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