Canadian home and commercial services company, Enercare Inc., recently completed its previously announced acquisition of Service Experts. The transaction was completed by way of a merger of an indirect wholly owned subsidiary of Enercare Solutions with Service Experts for a purchase price of $340.75 million.
“This is a defining acquisition for Enercare,” said John Macdonald, president and CEO of Enercare, in a news release. “North American expansion has been part of our strategic roadmap and is a natural extension to our business. Through Service Experts, we emerge as a North American market leader, creating new opportunities for growth and broadening our scope from Canada to North America while driving considerable incremental value for shareholders. In 2016, we expect the acquisition of Service Experts to be 25 percent accretive to Normalized pro forma Distributable Cash per common share.”