EMCOR Group, Inc. has entered into a definitive agreement to sell EMCOR Group (UK) plc, the Company’s United Kingdom building services segment, to OCS Group UK Limited, for a total enterprise value of approximately £190 million ($255 million).
The transaction was unanimously approved by the boards of directors of both companies and is expected to close by the end of 2025, subject to UK National Security and Investment (NSIA) clearance.
Commenting on the acquisition, Tony Guzzi, Chairman, President and Chief Executive Officer of EMCOR said: “With the sale of EMCOR UK, we are accelerating our ‘local execution, national reach’ strategy to further focus our business across our large, diverse and attractive end markets in the United States, where we continue to see significant opportunity. We have a lot of momentum in the business and intend to use the proceeds from this sale to expand our electrical and mechanical construction and mechanical services businesses, including through disciplined acquisitions, to provide customers with more comprehensive service offerings.”
Guzzi added: “We are grateful to our EMCOR UK team members who have made this milestone possible and are confident OCS has the resources and expertise to support EMCOR UK’s continued success.”
Rob Legge, Chief Executive Officer of OCS stated: “EMCOR UK has built an impressive UK technical services business, with proven expertise in complex and critical environments. We see strong strategic and cultural alignment and look forward to working together through the transition to ensure a smooth and consistent experience for colleagues and customers.”
In fiscal year 2024, EMCOR UK generated approximately $425.5 million in revenue and $21.5 million in operating income. The transaction is expected to be accretive to EMCOR’s operating margin profile.
