Comfort Systems USA
 | |
| Type | Public |
|---|---|
| Industry | HVAC |
| Founded | 1997 |
| Headquarters | , U.S. |
Key people | Franklin Myers (Chairman), Brian E. Lane (President & CEO), William George, III, (CFO) |
| Revenue |  US$7.027 billion (2024) |
| US$522 million (2024) | |
| Total assets | US$4.711 billion (2024) |
| Total equity | US$1.704 billion (2024) |
Number of employees | 18,300 (2024) |
| Website | comfortsystemsusa |
| Footnotes [1] | |
Comfort Systems USA, Inc. is an American company that provides mechanical and electrical contracting services, primarily HVAC, plumbing, piping and controls, off-site construction, monitoring and fire protection, and installation and servicing of electrical systems.[1]
The company is registered in Delaware and headquartered in Houston, Texas. It has 47 operating units with 178 locations in 136 cities in the United States.[1] It is ranked 520th on the Fortune 500.[2] In 2024, the company was ranked 6th by Engineering News-Record on its list of the top 600 specialty contractors.[3]
In 2024, 56.7% of revenue was from installation services in newly constructed facilities and 43.3% was from renovation, expansion, maintenance, repair and replacement services in existing buildings.[1]
History
[edit]In June 1997, 12 companies were merged into the newly-formed Comfort Systems USA, which then became a public company via an initial public offering.[4][5]
In February 2002, after a decline in business after the September 11 attacks and facing $205 million in debt due the following year, the company sold 19 subsidiaries to Emcor for $164 million in cash and the assumption of $22 million of debt.[6][7]
Acquisitions
[edit]| # | Year | Company | Description of Assets | Ref(s). |
|---|---|---|---|---|
| 1 | February 1998 | Portfolio of 16 businesses | Price was $125 million in cash | [8] |
| 2 | November 1998 | Shambaugh & Son | Price was $50 million in cash, $30 million in notes and $30 million in common stock; division was sold to Emcor in 2002 | [9] |
| 3 | September 2000 | Wichita Air Conditioning | [10] | |
| 4 | July 2010 | ColonialWebb Contractors | [11] | |
| 5 | April 2017 | BCH Mechanical | $100 million in revenues | [12] |
| 6 | February 2020 | Starr Electric | Offices in North Carolina and South Carolina | [13] |
| 7 | February 2024 | J & S Mechanical Contractor | Specializes in data center HVAC systems and hospital medical gas systems | [14] |
References
[edit]- 1 2 3 4 "Comfort Systems USA, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 20, 2025.
- ↑ "Comfort Systems USA". Fortune.
- ↑ "ENR 2023 Top 600 Specialty Contractors". Engineering News-Record.
- ↑ Carroll, Chris (April 13, 1997). "Another roll-up IPO rolling out". American City Business Journals.
- ↑ Hamilton, Martha M. (July 27, 1997). "CONDITIONED TO CONSOLIDATE". The Washington Post.
- ↑ "Heavily In Debt Comfort Systems Sells Key Operations To Emcor". Engineering News-Record. February 18, 2002.
- ↑ "COMPANY NEWS; COMFORT SYSTEMS SELLS 19 UNITS TO EMCOR". The New York Times. Bloomberg News. February 13, 2002.
- ↑ "COMPANY NEWS; COMFORT SYSTEMS SAYS IT ACQUIRED 16 MORE BUSINESSES". The New York Times. Bloomberg News. February 27, 1998.
- ↑ "COMPANY NEWS; COMFORT SYSTEMS SAYS IT HAS ADDED SHAMBAUGH & SON". The New York Times. Bloomberg News. November 17, 1998.
- ↑ Dinell, David (September 24, 2000). "Comfort Systems brings veteran company into its fold". American City Business Journals.
- ↑ Hall, Christine (July 28, 2010). "Local HVAC co. acquires North Carolina-based electric contractor". American City Business Journals.
- ↑ Manning, Margie (April 3, 2017). "Texas HVAC firm closes $100M deal for Tampa mechanical contractor". American City Business Journals.
- ↑ Little, Jane (February 11, 2020). "Local HVAC co. acquires North Carolina-based electric contractor". American City Business Journals.
- ↑ "Comfort Systems (FIX) Expands With the J & S Acquisition". Yahoo Finance. February 5, 2024.
External links
[edit]- Official website
- Business data for Comfort Systems USA, Inc.: