EMCOR Group, Inc. has announced a definitive agreement to sell its UK segment, EMCOR Group (UK) plc, to OCS Group UK Limited for a total enterprise value of approximately £190 million ($255 million). The transaction, which has been unanimously approved by both companies’ boards of directors, is expected to close by the end of 2025, pending regulatory clearance.
The sale is a strategic move for EMCOR, designed to sharpen its focus on its core operations in the United States. “With the sale of EMCOR UK, we are accelerating our ‘local execution, national reach’ strategy to further focus our business across our large, diverse, and attractive end markets in the United States,” said Tony Guzzi, EMCOR’s Chairman, President, and CEO.
Guzzi stated that the proceeds from the sale will be used to expand the company’s electrical and mechanical construction and services businesses in the U.S., including through acquisitions, to provide customers with more comprehensive offerings.
For OCS, the acquisition represents a significant expansion of its technical services capabilities. Rob Legge, CEO of OCS, noted a “strong strategic and cultural alignment” between the two companies. “EMCOR UK has built an impressive U.K. technical services business, with proven expertise in complex and critical environments,” said Legge, who expressed confidence in a smooth transition for both colleagues and customers.
In fiscal year 2024, EMCOR UK generated approximately $425.5 million in revenue and $21.5 million in operating income. The sale is expected to be accretive to EMCOR’s operating margin profile.
Evercore served as financial advisor to EMCOR, with Ropes & Gray LLP as legal advisor. Weil, Gotshal & Manges LLP provided legal advice to OCS.
