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- EMCOR Group, Inc. (NYSE:EME) has acquired Gaston Electrical Co., LLC, headquartered in Norwood, Massachusetts. Deal terms were not disclosed.
- Founded in 1934, Gaston is a full-service electrical construction and low voltage contractor. It designs, installs, constructs, and maintains electrical and low voltage systems in various projects.
- For FY22, Gaston estimates revenues of ~$140 million and remaining unsatisfied performance obligations of ~$120 million.
- This acquisition will strengthen EMCOR's specialty construction services operations in the Greater Boston area.
- Dan Fitzgibbons, President, and CEO of EMCOR's Electrical Construction Services Segment, commented, "We are pleased to expand our footprint in the Northeast with the addition of the Gaston team. This group brings important capability and expertise in servicing many of EMCOR's core end markets, including life sciences facilities and data centers."
- EME held cash and cash equivalents of $262.37 million as of June 30, 2022.
- Price Action: EME shares are trading higher by 0.02% at $114.86 on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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