Comfort Systems USA

Last updated
Comfort Systems USA, Inc.
Company type Public company
Industry HVAC
Founded1997;28 years ago (1997)
Headquarters
Houston, Texas
,
United States
Key people
Franklin Myers (Chairman), Brian E. Lane (President & CEO), William George, III, (CFO)
RevenueIncrease2.svg US$7.027 billion (2024)
Increase2.svg US$522 million (2024)
Total assets Increase2.svg US$4.711 billion (2024)
Total equity Increase2.svg US$1.704 billion (2024)
Number of employees
18,300 (2024)
Website comfortsystemsusa.com
Footnotes /references
[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]

Contents

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

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

#YearCompanyDescription of AssetsRef(s).
1February 1998Portfolio of 16 businessesPrice was $125 million in cash [8]
2November 1998Shambaugh & SonPrice was $50 million in cash, $30 million in notes and $30 million in common stock; division was sold to Emcor in 2002 [9]
3September 2000Wichita Air Conditioning [10]
4July 2010ColonialWebb Contractors [11]
5April 2017BCH Mechanical$100 million in revenues [12]
6February 2020Starr ElectricOffices in North Carolina and South Carolina [13]
7February 2024J & S Mechanical ContractorSpecializes in data center HVAC systems and hospital medical gas systems [14]

References

  1. 1 2 3 4 "Comfort Systems USA, Inc. 2024 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 20, 2025.
  2. ↑ "Comfort Systems USA". Fortune .
  3. ↑ "ENR 2023 Top 600 Specialty Contractors". Engineering News-Record .
  4. ↑ Carroll, Chris (April 13, 1997). "Another roll-up IPO rolling out" . American City Business Journals .
  5. ↑ Hamilton, Martha M. (July 27, 1997). "CONDITIONED TO CONSOLIDATE" . The Washington Post .
  6. ↑ "Heavily In Debt Comfort Systems Sells Key Operations To Emcor" . Engineering News-Record . February 18, 2002.
  7. ↑ "COMPANY NEWS; COMFORT SYSTEMS SELLS 19 UNITS TO EMCOR" . The New York Times . Bloomberg News. February 13, 2002.
  8. ↑ "COMPANY NEWS; COMFORT SYSTEMS SAYS IT ACQUIRED 16 MORE BUSINESSES" . The New York Times . Bloomberg News. February 27, 1998.
  9. ↑ "COMPANY NEWS; COMFORT SYSTEMS SAYS IT HAS ADDED SHAMBAUGH & SON" . The New York Times . Bloomberg News. November 17, 1998.
  10. ↑ Dinell, David (September 24, 2000). "Comfort Systems brings veteran company into its fold" . American City Business Journals .
  11. ↑ Hall, Christine (July 28, 2010). "Local HVAC co. acquires North Carolina-based electric contractor" . American City Business Journals .
  12. ↑ Manning, Margie (April 3, 2017). "Texas HVAC firm closes $100M deal for Tampa mechanical contractor" . American City Business Journals .
  13. ↑ Little, Jane (February 11, 2020). "Local HVAC co. acquires North Carolina-based electric contractor" . American City Business Journals .
  14. ↑ "Comfort Systems (FIX) Expands With the J & S Acquisition". Yahoo Finance . February 5, 2024.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.