Emcor Explained

EMCOR Group, Inc.
Type:	Public
Key People:	Anthony J. Guzzi (CEO)
Industry:	Engineering, construction
Revenue:	(2023)^[1]
Net Income:	US$633 million (2023)
Assets:	US$6.61 billion (2023)
Equity:	US$2.47 billion (2023)
Num Employees:	38,300 (2023)
Location:	Norwalk, Connecticut

EMCOR Group, Inc. is an American mechanical and electrical construction, industrial and energy infrastructure, and building services company based in Norwalk, Connecticut. It comprises 100 or more operating companies, has approximately 180 locations, and employs more than 38,000 people.^[2] The company was listed as number 369 on the 2023 Fortune 500 list.^[3]

History

Emerging in 1994 as a result of the bankruptcy of JWP, Inc., formerly Jamaica Water Properties Inc., Emcor Group, Inc. has grown through an acquisition strategy focused on broadening company services by branching out into new geographical areas and moving into new markets.^[4]

In March 2020, Emcor Group disclosed that a ransomware incident had taken down some of its IT systems on February 15, 2020. The incident was identified as an infection with Ryuk ransomware.^[5] Details about the incident were not disclosed, including whether the company had paid the ransom demand or not.^[5]

Acquisitions

Acquisitions have included:

• 2002, Emcor acquired the Virginia-based Consolidated Engineering Services Inc.^[6]
• 2002, Emcor acquired 19 companies from Comfort Systems USA.^[7]
• 2002, Emcor acquires New England Mechanical Services (NEMSI)^[8]
• 2005, Emcor purchased Fluidics, Inc., a privately held mechanical services company based in Philadelphia, Pennsylvania.^[9]
• 2005, Emcor acquired S.A. Comunale, Inc., a privately held fire protection and mechanical services company headquartered in Akron, Ohio.^[10]
• 2007, Emcor acquired Ohmstede Ltd., the leading heat exchanger services provider in the U.S.^[11]
• 2010, Emcor acquired Scalise Industries, a privately held engineering, facilities maintenance, and service company headquartered in Lawrence, Pennsylvania.^[12]
• 2011, Emcor purchased Bahnson Holdings, Inc., a privately held mechanical construction services company headquartered in Winston-Salem, North Carolina.^[13]
• 2013, Emcor acquired RepconStrickland, Inc., a privately held firm that included five recognized brands with capabilities encompassing turnaround and specialty services, including: shutdowns, overhauls, revamps, capital projects, engineering and constructibility reviews, project management, welding services, refractory services, tower services and emergency repair.^[14]
• 2016, Emcor acquired Ardent Services, L.L.C. and Rabalais Constructors, LLC (collectively, "Ardent"), for a purchase price of $205 million in cash. Headquartered in Covington, Louisiana, and Corpus Christi, Texas, Ardent is one of the U.S. industrial and refinery electrical and instrumentation service companies. Ardent provides electrical, process control, equipment installation and automation services for the maintenance, repair, replacement and new construction of energy infrastructure.^[15]
• 2016, Emcor acquired Newcomb and Company. Headquartered in Raleigh, North Carolina, Newcomb is a HVAC commercial and industrial mechanical contractor.^[16]
• 2017, Emcor acquired CCI Mechanical, Based in West Valley, Utah^[17]
• 2021, Emcor acquired Quebe Holdings, Inc., based in Daytion, Ohio^[18]

Projects

• B2 Rocket Test Stand at the John C. Stennis Space Center; Hancock County, Mississippi^[19]
• Bay Area Rapid Transit (BART) – BART Coliseum/Oakland Airport Station to the Oakland International Airport; Oakland, California^[20]
• Caterpillar's Work Tools Campus; Wamego, Kansas^[21]
• Cayuga Milk Ingredients Manufacturing Facility; Auburn, New York^[22]
• Chobani Yogurt Plant; Twin Falls, Idaho^[23]
• City of Clearwater Reverse Osmosis Water Treatment Plant; Clearwater, Florida^[24]
• Coast Guard Headquarters and Support Facilities; Government Service Administration (GSA) – St. Elizabeth's Campus; Washington, D.C.^[25]
• Consolidated National Operations Center of the U.S. Coast Guard Main Headquarters; Washington D.C.^[26]
• Department of the Navy, Naval Facilities Engineering Command Southwest (NAVFAC); San Diego County, California^[27]
• Directorate of Public Works at Fort Huachuca; Sierra Vista, Arizona^[27]
• Electrical Generator Plant – City of West Palm Beach; West Palm Beach, Florida^[27]
• Florida Inland Navigation District – Dredged Material Area; Nassau County, Florida^[28]
• Georgia Gwinnett College – Allied Health and Science Building; Lawrenceville, Georgia^[29]
• Herbert Hoover Dike; Okeechobee and Palm Beach Counties, Florida^[30]
• Los Angeles Hall of Justice; Los Angeles, California^[31]
• NASA John C. Stennis Space Center; Hancock County, Mississippi^[32]
• National Library – Museum of George Washington's Estate; Mount Vernon, Virginia^[33]
• Northeast Ohio Medical University Health and Wellness Center; Rootstown, Ohio^[34]
• Palm Beach Resource Recovery Corporation – Solid Waste Authority of Palm Beach County; West Palm Beach, Florida^[35]

Notes and References

1. Web site: Form 10-K. U.S. Securities and Exchange Commission. February 28, 2024.
2. Web site: EMCOR Group – About Us .
3. Web site: Fortune 500 . 2023-08-10.
4. Web site: Frank MacInnes OF EMCOR Group: In tragedy, opportunity. Institutional investor. 1 November 2001. 18 June 2018.
5. Web site: Ryuk ransomware hits Fortune 500 company EMCOR. Cimpanu. Catalin. ZDNet. en. 2020-03-05.
6. EMCOR acquires big facilities manager. Contractor Magazine. 2003. 50. 2.
7. Web site: 16 February 2002 . EmcorAcquires Comfort Systems' Subsidiaries . Air Conditioning, Heating, Refrigeration News.
8. Web site: History :: EMCOR Service New England Mechanical. 2021-02-24. www.nemsi.com.
9. Web site: 12 February 2005 . EMCOR buys Comunale . Air Conditioning, Heating, Refrigeration News.
10. Web site: 11 January 2006 . EMCOR buys Comunale . Contractor.
11. Web site: 21 August 2007 . EMCOR to acquire Ohmstede for about $455 mln . Reuters.
12. Web site: Juliano . Michael C . 25 February 2010 . Emcor buys Scalise Industries . Stamford Advocate .
13. Web site: Craver . Richard . 2 February 2011 . Bahnson Holdings to be acquired by Emcor Group . Winston-Salem Journal .
14. Web site: 20 June 2013 . EMCOR to Acquire RepconStrickland . Zacks.com .
15. News: EMCOR Group, Inc. Completes Acquisition of Ardent Services and Rabalais Constructors. 15 April 2016. Reuters. 3 May 2016.
16. Web site: EMCOR Group Acquires Newcomb. Mergr. 23 August 2019.
17. Web site: EMCOR Group Acquires Salt Lake City's CCI Mechanical. ENR. 22 March 2017. 20 June 2021.
18. Web site: 2021-08-05 . EMCOR Group, Inc. Acquires Quebe Holdings, Inc. . 2023-07-15 . www.businesswire.com . en.
19. Web site: 28 November 2012 . EMCOR Group, Inc. Subsidiary Awarded Restoration of Rocket Test Stand by NASA at John C. Stennis Space Center . https://web.archive.org/web/20140416181044/http://www.reuters.com/article/2012/11/28/idUS114876+28-Nov-2012+BW20121128 . dead . 16 April 2014 . Reuters.
20. Web site: 2 April 2012 . EMCOR Group, Inc. Subsidiary Awarded Contract for Complete Installation of Electrical Systems for BART at Oakland International Airport . Electrical Construction & Maintenance.
21. Web site: 5 March 2012 . EMCOR Group, Inc. Subsidiary Awarded Contract for Mechanical Systems at Caterpillar Facility . Air Conditioning, Heating, Refrigeration News.
22. Web site: 24 January 2013 . EMCOR Group, Inc. Subsidiary Awarded Contract for Mechanical Systems at Caterpillar Facility . Electrical Construction & Maintenance.
23. Web site: 17 December 2012 . Chobani, Inc. Opens World's Largest Yogurt Plant in Twin Falls, Idaho . dead . Daily Finance . 16 April 2014 . 16 April 2014 . https://web.archive.org/web/20140416180733/http://www.dailyfinance.com/2012/12/17/chobani-inc-opens-worlds-largest-yogurt-plant-in-t/ .
24. Web site: 19 June 2013 . City of Clearwater Florida Awards RO Water Plant Contract . Storm Water Solutions.
25. Web site: 31 July 2013 . EMCOR Subsidiary Awarded Coast Guard Contract . Air Conditioning, Heating, Refrigeration News.
26. Web site: 12 April 2012 . EMCOR Subsidiary Awarded Contract for Design/Build of Electrical Systems for Consolidated National Operations Center for U.S. Coast Guard Main Headquarters . Electrical Construction & Maintenance.
27. Web site: 11 December 2013 . EMCOR Subsidiary Awarded Contract for Design/Build of Electrical Systems for Consolidated National Operations Center for U.S. Coast Guard Main Headquarters . RediNews.com . 16 April 2014 . https://web.archive.org/web/20140416182847/http://www.redinews.com/eme-news/201312/emcor-group-inc-subsidiary-awarded-four-contracts-for-three-military-bases-64-buildings-for-mechanical-work-by-department-of-/ . 16 April 2014 . dead .
28. Web site: 15 March 2012 . EMCOR Group Company Awarded Contractor for Electrical Generator Facility for Florida City . Electrical Construction & Maintenance.
29. Web site: 3 June 2013 . EMCOR Group Subsidiary Awarded Electrical Contract at Georgia Gwinnett College . Electrical Construction & Maintenance.
30. Web site: 8 November 2013 . EMCOR Group Subsidiary Awarded Contract for Herbert Hoover Dike Reconstruction . Water & Wastes Digest.
31. Web site: 9 January 2012 . EMCOR Group, Inc. Subsidiary Awarded Contract For Design/Assist And Electrical System Retrofit For Los Angeles Hall Of Justice . Electrical Construction & Maintenance.
32. Web site: 16 October 2012 . EMCOR Subsidiary Awarded Multiple Award Construction Contract by NASA . Air Conditioning, Heating, Refrigeration News.
33. Web site: 12 April 2012. EMCOR Group, Inc. subsidiary awarded contract for George Washington's Estate in Virginia. https://archive.today/20140416133509/http://www.worldconstructionnetwork.com/news/emcor-group-inc-subsidiary-awarded-contract-for-george-washingtons-estate-in-virginia-120412/. 16 April 2014. World Construction Network. 16 April 2014. dead. dmy-all.
34. Web site: 11 July 2013 . Emcor Group Subsidiary to Install Fire Protection, Mechanical Systems for Ohio Medical Facilities . Medical Construction & Design.
35. Web site: 21 March 2012 . EMCOR Group, Inc. Company Awarded Contract Extension for Labor Support for Palm Beach Resource Recovery Corporation in Palm . Bloomberg . dead . https://web.archive.org/web/20140416181434/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aM2eNyvogSs8 . 2014-04-16 .