Comfort Systems USA, Inc., Houston, a publicly traded provider of mechanical services including heating, ventilation, air conditioning, plumbing, piping and controls, plans to expand into the electrical market with an agreement to acquire Walker TX Holding Company, Inc., Irving, Texas.
Walker is a family-owned company that provides commercial electrical, network, end-user, industrial and related services throughout the state, with offices in the Dallas/Fort Worth area, Houston, San Antonio and Austin.
Comfort Systems expects Walker to contribute annualized revenue of $325 million to $375 million and earnings of $20 million to $25 million. The transaction is expected to close early in the second quarter of 2019 and is subject to customary closing conditions.
“Walker brings best-in-class electrical expertise and a stellar reputation to Comfort Systems USA,” said Brian Lane, CEO of Comfort Systems. “Given the strong leadership at all levels of the company, we believe that Walker will continue to grow and improve. We could not be happier that the Walker team is joining Comfort Systems USA, and we believe that they will provide us with a strong base for continued growth and investment in the electrical contracting business that will complement and strengthen our existing mechanical, plumbing, controls, fire suppression and electrical lines of business across the United States.”
“My team chose to join Comfort Systems USA from among many strong options because we believe that Comfort is fully committed to its employees, starting at the field level, and that this partnership is the best way to provide additional opportunities and growth for all of our employees,” said Scott Walker, CEO of Walker, in a release. “We feel confident that Walker and Comfort Systems USA have a bright future together.”
Comfort Systems USA has 128 locations in 114 cities around the nation.