EMCOR Group to Acquire USM Services Holdings for $255M

EMCOR Group, Inc. EME today announced that it has entered into a definitive agreement to acquire USM Services Holdings, Inc. from Transfield Services Limited in an all-cash transaction for $255 million, representing $225 million for the base USM business plus $30 million for the net present value of a USM tax benefit. Transfield Services Limited is an Australian-based global provider of operations, asset management and project management services. The transaction is expected to close towards the end of June, subject to customary closing conditions. EMCOR will utilize available cash to finance the acquisition.