Emcor

{{Short description|Company providing mechanical and electrical construction, industrial energy infrastructure}}

{{Infobox company

| name = EMCOR Group, Inc.

| logo = Emcor logo.svg

| type = Public

| traded_as = {{unbulleted list|{{nyse|EME}}|S&P 400 component}}

| industry = Engineering, Construction

| foundation = {{Start date and age|1994|12}}

| location = Norwalk, Connecticut

| key_people = Anthony J. Guzzi (CEO)

| revenue = {{increase}} {{US$|14.566 billion|link=yes}} (2024)

| operating_income = {{nowrap| {{increase}} US$1.344 billion (2024)}}

| net_income = {{increase}} US$1.007 billion (2024)

| assets = {{increase}} US$7.716 billion (2024)

| equity = {{increase}} US$2.938 billion (2024)

| num_employees = 40,400 (2024)

| homepage = {{URL|emcorgroup.com}}

| footnotes = {{Cite web | url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0000105634/000010563425000015/eme-20241231.htm |title=Form 10-K |publisher=U.S. Securities and Exchange Commission |date=February 26, 2025}}

}}

EMCOR Group, Inc., headquartered in Norwalk, Connecticut, provides mechanical and electrical construction, industrial and energy infrastructure, and building services in the United States and the United Kingdom. It has over 100 operating subsidiaries and approximately 180 locations. The company is ranked 324th on the Fortune 500.{{Cite web | url=https://fortune.com/company/emcor-group/ |title=Fortune 500 | work=Fortune | url-access=subscription}} In 2024, the company was ranked 2nd by Engineering News-Record on its list of the top 600 specialty contractors.{{Cite web | url=https://www.enr.com/toplists/2024-Top-600-Specialty-Contractors-Preview | title=ENR 2024 Top 600 Specialty Contractors | work=Engineering News-Record}}

The company's electrical and mechanical construction services division, representing 67% of revenues in 2024, provides construction and operation services for infrastructure such as power stations, including those that provide sustainable energy such as photovoltaic systems; food processing; road lighting and traffic control systems, and other heavy construction projects.

The company's building services division, which represented 24% of revenues in 2024, maintains mechanical systems such as HVAC, plumbing, fire safety, automation, energy, and air quality. Notable government agencies that the company provides services for include the National Archives and Records Administration, the Federal Deposit Insurance Corporation, the Government Accountability Office, and the departments of Transportation, Education, Health and Human Services, Energy, and Homeland Security, as well as the NASA Jet Propulsion Laboratory.

The company's industrial services segment, which represented 9% of revenues in 2024, handles maintenance of oil refineries and other petrochemical processing plants. It is also leveraging its expertise to construct and maintain facilities related to sustainable energy and carbon capture and storage.

The company has experienced growth as a result of increased demand for systems due to growth in digital processing, cloud computing, and data storage. It has benefited from the increased usage of data centers, energy transition, focuses on efficiency and sustainability, and reshoring and nearshoring.

History

In 1994, Jamaica Water Properties filed for bankruptcy after making making acquisitions unrelated to its core business and incurring significant debt. Frank MacInnis became CEO of the company, sold many of the businesses and renamed the remaining company as Emcor. The company also added facilities management services to provide a steady revenue stream.

As of 2001, since the restructuring was completed in December 1994, the company had realized 27 consecutive quarters of year-over-year revenue growth.{{cite news |url=https://www.institutionalinvestor.com/article/2btfm14q4v4r184od4hs0/portfolio/frank-macinnis-of-emcor-group-in-tragedy-opportunity |title=Frank MacInnes OF EMCOR Group: In tragedy, opportunity | work=Institutional investor | date=October 31, 2001}}

McInnis retired as CEO in January 2011{{Cite news | url=https://www.enr.com/articles/20572-emcor-chief-to-retire | title=EMCOR Chief to Retire | work=Engineering News-Record | date=May 26, 2010}} and as chairman in 2015.{{Cite press release | url=https://www.businesswire.com/news/home/20151030005223/en/Frank-T.-MacInnis-Retires-from-EMCOR-Group-Inc.-Board-of-Directors-Steven-B.-Schwarzwaelder-Elected-to-the-Board-of-Directors | title=Frank T. MacInnis Retires from EMCOR Group, Inc. Board of Directors; Steven B. Schwarzwaelder Elected to the Board of Directors | publisher=Business Wire | date=October 30, 2015}}

=Acquisitions=

class="wikitable sortable"
scope="col" \| # ! scope="col" \| Year ! scope="col" \| Company ! scope="col" style="width:80px;"\| Price ! scope="col" \| Description of Assets ! scope="col" class="unsortable" \| Ref(s).
1 \| {{dts\|2002\|2}} \| 19 companies from Comfort Systems USA \| $186 million \| \| {{cite news \| url=https://www.nytimes.com/2002/02/13/business/company-news-comfort-systems-sells-19-units-to-emcor.html \| title=COMPANY NEWS; COMFORT SYSTEMS SELLS 19 Units to Emcor \| agency=Bloomberg News \| work=The New York Times \| date=February 13, 2002 \| url-access=limited}}
2 \| {{dts\|2003\|2}} \| Consolidated Engineering Services \| $178 million \| Parent of Cincinnati-based Viox Services \| {{cite news \| url=https://www.bizjournals.com/cincinnati/stories/2003/02/03/daily40.html \| title=EMCOR buys parent of Viox \| work=American City Business Journals \| date=February 5, 2003 \| url-access=subscription}}
3 \| {{dts\|2005\|12}} \| Fluidics \| \| Mechanical services company based in Philadelphia, Pennsylvania \| {{cite news \| url=https://www.contractormag.com/hydronics/article/20873699/emcor-group-buys-fluidics \| title=EMCOR Group buys Fluidics \| work=Contractor \| date=December 1, 2005}}
4 \| {{dts\|2006\|1}} \| Comunale \| \| Fire protection and mechanical services company headquartered in Akron, Ohio \| {{cite news \| url=https://www.contractormag.com/home/article/20876252/emcor-buys-comunale \| title=EMCOR buys Comunale \| work=Contractor \| date=November 1, 2006}}
5 \| {{dts\|2007\|8}} \| Ohmstede \| $455 million \| Heat exchanger services provider \| {{cite news \| url=https://www.marketwatch.com/story/emcor-shares-rally-on-deal-to-acquire-ohmstede \| title=Emcor shares rally on deal to acquire Ohmstede \| first=Gabriel \| last=Madway \| work=MarketWatch \| date=August 22, 2007 \| url-access=limited}}
6 \| {{dts\|2010\|2}} \| Scalise Industries \| \| Engineering, facilities maintenance, and service company headquartered in Lawrence, Pennsylvania \| {{cite news \| url=https://www.stamfordadvocate.com/business/article/emcor-buys-scalise-industries-381566.php \| title=Emcor buys Scalise Industries \| first=Michael C. \| last=Juliano \| work=Stamford Advocate \| date=February 25, 2010 \| url-access=limited}}
7 \| {{dts\|2011\|2}} \| Bahnson Holdings \| \| Mechanical construction services company headquartered in Winston-Salem, North Carolina \| {{cite news \| url=https://journalnow.com/news/archives/article_61000180-5114-5c73-adff-e5e44baa6a89.html \|title=Bahnson Holdings to be acquired by Emcor Group \| first=Richard \| last=Craver \| work=Winston-Salem Journal \| date=February 2, 2011 \| url-access=subscription}}
8 \| {{dts\|2012\|1}} \| Southern Industrial Constructors \| \| Industrial services contractor \| {{cite news \| url=https://www.contractormag.com/management/article/20877556/emcor-group-acquires-southern-industrial-constructors \| title=EMCOR Group acquires Southern Industrial Constructors \| work=Contractor \| date=January 27, 2012}}
9 \| {{dts\|2013\|7}} \| RepconStrickland \| $455 million \| U.S. industrial and refinery service provider \| {{cite press release \| url=https://www.businesswire.com/news/home/20130729005859/en/EMCOR-Group-Inc.-Completes-Acquisition-of-RepconStrickland \| title=EMCOR Group, Inc. Completes Acquisition of RepconStrickland \| publisher=Business Wire \| date=July 29, 2013}}
10 \| {{dts\|2016\|4}} \| Ardent Services and Rabalais Constructors \| $205 million \| U.S. industrial and refinery electrical and instrumentation service provider \| {{cite press release \| url=https://www.businesswire.com/news/home/20160415005442/en/EMCOR-Group-Inc.-Completes-Acquisition-of-Ardent-Services-and-Rabalais-Constructors \| title=EMCOR Group, Inc. Completes Acquisition of Ardent Services and Rabalais Constructors \| publisher=Business Wire \| date=April 15, 2016}}
11 \| {{dts\|2016\|4}} \| Newcomb and Company \| \| HVAC commercial and industrial mechanical contractor \| {{cite news \| url=https://www.contractormag.com/management/article/20881055/emcor-group-acquires-newcomb-and-co-in-raleigh-nc \| title=Emcor Group acquires Newcomb and Co. in Raleigh, NC \| work=Contractor \| date=April 5, 2016}}
12 \| {{dts\|2017\|3}} \| CCI Mechanical \| \| Mechanical service and design-build contractor for the commercial, industrial, and data center markets headquartered in Salt Lake City \| {{cite news \| url=https://www.enr.com/articles/41711-emcor-group-acquires-salt-lake-citys-cci-mechanical \| title=EMCOR Group Acquires Salt Lake City’s CCI Mechanical \| work=Engineering News-Record \| date=March 22, 2017}}
13 \| {{dts\|2021\|8}} \| Quebe Holdings \| \| Electrical services company \| {{cite press release \| url=https://www.businesswire.com/news/home/20210805005894/en/EMCOR-Group-Inc.-Acquires-Quebe-Holdings-Inc. \| title=EMCOR Group, Inc. Acquires Quebe Holdings, Inc. \| publisher=Business Wire \| date=August 5, 2021}}
14 \| {{dts\|2025\|2}} \| Miller Electric \| $865 million \| Electrical contractor operating in the Southeastern U.S. \| {{cite press release \| url=https://www.businesswire.com/news/home/20250203899318/en/EMCOR-Group-Inc.-Completes-Acquisition-of-Miller-Electric-Company \| title=EMCOR Group, Inc. Completes Acquisition of Miller Electric Company \| publisher=Business Wire \| date=February 3, 2025}}

class="wikitable sortable"

scope="col" | #

! scope="col" | Year

! scope="col" | Company

! scope="col" style="width:80px;"| Price

! scope="col" | Description of Assets

! scope="col" class="unsortable" | Ref(s).

| {{dts|2002|2}}

| 19 companies from Comfort Systems USA

| $186 million

| {{cite news | url=https://www.nytimes.com/2002/02/13/business/company-news-comfort-systems-sells-19-units-to-emcor.html | title=COMPANY NEWS; COMFORT SYSTEMS SELLS 19 Units to Emcor | agency=Bloomberg News | work=The New York Times | date=February 13, 2002 | url-access=limited}}

| {{dts|2003|2}}

| Consolidated Engineering Services

| $178 million

| Parent of Cincinnati-based Viox Services

| {{cite news | url=https://www.bizjournals.com/cincinnati/stories/2003/02/03/daily40.html | title=EMCOR buys parent of Viox | work=American City Business Journals | date=February 5, 2003 | url-access=subscription}}

| {{dts|2005|12}}

| Fluidics

| Mechanical services company based in Philadelphia, Pennsylvania

| {{cite news | url=https://www.contractormag.com/hydronics/article/20873699/emcor-group-buys-fluidics | title=EMCOR Group buys Fluidics | work=Contractor | date=December 1, 2005}}

| {{dts|2006|1}}

| Comunale

| Fire protection and mechanical services company headquartered in Akron, Ohio

| {{cite news | url=https://www.contractormag.com/home/article/20876252/emcor-buys-comunale | title=EMCOR buys Comunale | work=Contractor | date=November 1, 2006}}

| {{dts|2007|8}}

| Ohmstede

| $455 million

| Heat exchanger services provider

| {{cite news | url=https://www.marketwatch.com/story/emcor-shares-rally-on-deal-to-acquire-ohmstede | title=Emcor shares rally on deal to acquire Ohmstede | first=Gabriel | last=Madway | work=MarketWatch | date=August 22, 2007 | url-access=limited}}

| {{dts|2010|2}}

| Scalise Industries

| Engineering, facilities maintenance, and service company headquartered in Lawrence, Pennsylvania

| {{cite news | url=https://www.stamfordadvocate.com/business/article/emcor-buys-scalise-industries-381566.php | title=Emcor buys Scalise Industries | first=Michael C. | last=Juliano | work=Stamford Advocate | date=February 25, 2010 | url-access=limited}}

| {{dts|2011|2}}

| Bahnson Holdings

| Mechanical construction services company headquartered in Winston-Salem, North Carolina

| {{cite news | url=https://journalnow.com/news/archives/article_61000180-5114-5c73-adff-e5e44baa6a89.html |title=Bahnson Holdings to be acquired by Emcor Group | first=Richard | last=Craver | work=Winston-Salem Journal | date=February 2, 2011 | url-access=subscription}}

| {{dts|2012|1}}

| Southern Industrial Constructors

| Industrial services contractor

| {{cite news | url=https://www.contractormag.com/management/article/20877556/emcor-group-acquires-southern-industrial-constructors | title=EMCOR Group acquires Southern Industrial Constructors | work=Contractor | date=January 27, 2012}}

| {{dts|2013|7}}

| RepconStrickland

| $455 million

| U.S. industrial and refinery service provider

| {{cite press release | url=https://www.businesswire.com/news/home/20130729005859/en/EMCOR-Group-Inc.-Completes-Acquisition-of-RepconStrickland | title=EMCOR Group, Inc. Completes Acquisition of RepconStrickland | publisher=Business Wire | date=July 29, 2013}}

| {{dts|2016|4}}

| Ardent Services and Rabalais Constructors

| $205 million

| U.S. industrial and refinery electrical and instrumentation service provider

| {{cite press release | url=https://www.businesswire.com/news/home/20160415005442/en/EMCOR-Group-Inc.-Completes-Acquisition-of-Ardent-Services-and-Rabalais-Constructors | title=EMCOR Group, Inc. Completes Acquisition of Ardent Services and Rabalais Constructors | publisher=Business Wire | date=April 15, 2016}}

| {{dts|2016|4}}

| Newcomb and Company

| HVAC commercial and industrial mechanical contractor

| {{cite news | url=https://www.contractormag.com/management/article/20881055/emcor-group-acquires-newcomb-and-co-in-raleigh-nc | title=Emcor Group acquires Newcomb and Co. in Raleigh, NC | work=Contractor | date=April 5, 2016}}

| {{dts|2017|3}}

| CCI Mechanical

| Mechanical service and design-build contractor for the commercial, industrial, and data center markets headquartered in Salt Lake City

| {{cite news | url=https://www.enr.com/articles/41711-emcor-group-acquires-salt-lake-citys-cci-mechanical | title=EMCOR Group Acquires Salt Lake City’s CCI Mechanical | work=Engineering News-Record | date=March 22, 2017}}

| {{dts|2021|8}}

| Quebe Holdings

| Electrical services company

| {{cite press release | url=https://www.businesswire.com/news/home/20210805005894/en/EMCOR-Group-Inc.-Acquires-Quebe-Holdings-Inc. | title=EMCOR Group, Inc. Acquires Quebe Holdings, Inc. | publisher=Business Wire | date=August 5, 2021}}

| {{dts|2025|2}}

| Miller Electric

| $865 million

| Electrical contractor operating in the Southeastern U.S.

| {{cite press release | url=https://www.businesswire.com/news/home/20250203899318/en/EMCOR-Group-Inc.-Completes-Acquisition-of-Miller-Electric-Company | title=EMCOR Group, Inc. Completes Acquisition of Miller Electric Company | publisher=Business Wire | date=February 3, 2025}}

Controversies

=Data breach=

In March 2020, the company disclosed that a ransomware incident had affected some of its IT systems on February 15, 2020. The incident was identified as an infection with Ryuk ransomware. Details about the incident were not disclosed, including whether or not the company paid the ransom demand.{{Cite news |url=https://www.zdnet.com/article/ryuk-ransomware-hits-fortune-500-company-emcor/ | title=Ryuk ransomware hits Fortune 500 company EMCOR |last=Cimpanu |first=Catalin | work=ZDNet | date=March 4, 2020}}

References

Category:Companies based in Norwalk, Connecticut

Category:Companies listed on the New York Stock Exchange

Category:Companies in the S&P 400