• E-NEWSLETTER SUBSCRIPTIONS
  • EW DIGITAL EDITION
  • ADVERTISE

    • Latest from News Watch

    Getty Images
    Mergers Large 12122022 Dreamstime Xxl 148992283
    CPSC
    Schneider Electric electric panel

    Sponsored

    1. News
    2. News Watch

    GroupMAC acquires eight contractors

    Oct. 1, 2003
    Group Maintenance America Corp. (GroupMAC), Houston, Texas, moved closer to its goal of becoming the leading single-source provider of mechanical and

    Group Maintenance America Corp. (GroupMAC), Houston, Texas, moved closer to its goal of becoming the leading single-source provider of mechanical and electrical services in the U.S., buying eight more contractors in late August. The eight have total annual revenues of approximately $160 million, increasing GroupMAC's annual revenues to about $800 million.

    The aggregate consideration for the eight transactions was approximately $93.8 million, consisting of $42.8 million in cash, 2.5 million shares of stock, and the assumption of $7.8 million in long-term debt, a company official said. The business mix of these companies is primarily commercial and industrial in nature, he said.

    The companies acquired are: Central Air Conditioning Contractors, Inc. of Columbia, Md.; Converse Electrical Contractors of Columbus, Ohio; The Farfield Co. of Lititz, Pa.; Ferguson Electric Corp. of Colorado Springs, Colo.; Merritt Island Air & Heat, Inc. of Merritt Island, Fla.; Phoenix Electric Co. of Tigard, Ore.; Reliable Mechanical, Inc. of Louisville, Ky.; and Romanoff Electric Corp. of Toledo, Ohio. All will operate under their names as subsidiaries of GroupMAC.

    About the Author

    Doug Chandler | Senior Staff Writer

    Doug has been reporting and writing on the electrical industry for Electrical Wholesaling and Electrical Marketing since 1992 and still finds the industry’s evolution and the characters who inhabit its companies endlessly fascinating. That was true even before e-commerce, LED lighting and distributed generation began to disrupt so many of the electrical industry’s traditional practices.

    Doug earned a BA in English Literature from the University of Kansas after spending a few years in KU’s William Allen White School of Journalism, then deciding he absolutely did not want to be a journalist. In the company of his wife, two kids, two dogs and two cats, he spends a lot of time in the garden and the kitchen – growing food, cooking, brewing beer – and helping to run the family coffee shop.

    Continue Reading

    Sponsored Recommendations