August 21, 2007 / 8:34 PM / 12 years ago

EMCOR to acquire Ohmstede for about $455 mln

Aug 21 (Reuters) - EMCOR Group Inc (EME.N) said it agreed to acquire heat exchanger services provider Ohmstede Ltd. from private equity firm First Reserve for about $455 million in cash to expand in the oil refinery and petrochemical markets.

The acquisition is expected to be neutral or slightly add to its earnings for the balance of 2007, the electrical and mechanical construction services provider said.

The company expects the acquisition, which is expected to close towards the end of September or early October, to contribute about $280 million to revenue and add to net income by at least 10 cents a share for 2008. (Reporting by Nachiket Kelkar in Bangalore)

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