Comfort Systems Acquires ShoffnerKalthoff Family of Companies
Shoffner is engaged in a broad range of mechanical contracting projects, HVAC service, and electrical contracting
HOUSTON — Comfort Systems USA Inc., a leading provider of commercial, industrial, and institutional HVAC services, announced it has acquired the ShoffnerKalthoff family of companies, which includes ShoffnerKalthoff Mechanical Electrical Service Inc., Shoffner Mechanical Services Inc., and SKMES Inc., headquartered in Knoxville, Tennessee.
Shoffner is a regional mechanical contractor engaged in a broad range of mechanical contracting projects, HVAC service, and electrical contracting in the Knoxville and surrounding areas. Initially, Shoffner is expected to contribute annualized revenues of approximately $70 million at profitability levels that are generally comparable to those currently experienced by Comfort Systems USA operations. In light of the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a neutral to slightly accretive contribution to earnings per share during the first 12 to 18 months after the acquisition.
Brian Lane, Comfort Systems USA’s chief executive officer, said, “We are extremely happy to announce that Shoffner is now a part of the Comfort Systems USA family of companies. Shoffner has a long history of contracting excellence, and this partnership brings exceptional capabilities, resources, and leadership, a well-established reputation for quality workmanship, and valuable customer relationships. Shoffner’s strong team will strengthen our market leadership and customer offerings throughout the Southeast and Mid-Atlantic markets.”
Comfort Systems USA provides its services from 94 locations in 85 cities around the nation. For more information, visit www.comfortsystemsusa.com.
Publication date: 2/8/2016