Comfort Systems USA announced that it has acquired Eldeco, headquartered in South Carolina. Eldeco was founded in 1972 and performs electrical design and construction services in the Southeastern region of the United States. Initially, Eldeco is expected to contribute annualized revenue of approximately $130 million to $140 million, and earnings before interest, taxes, depreciation, and amortization of $8 million to $9 million. Considering the required amortization expense related to intangibles and other costs associated with the transaction, the acquisition is expected to make a neutral to slightly accretive contribution to earnings per share in 2023 and 2024.
Published first on TheFly
