Construction

Aegion Announces Acquisition of Portland Utilities Construction Company, LLC

Aegion Announces Acquisition of Portland Utilities Construction

Aegion Corporation, a leading provider of infrastructure maintenance, rehabilitation and technology-enabled water solutions, today announced the acquisition of Portland Utilities Construction Company, a preferred underground utility contractor in the Southeast and Texas. Portland Utilities Construction Company, LLC (PUCC) plans to operate under its current company name in the near term.

Founded in 1991 by Ernie Woodcock, PUCC found its niche in the trenchless pipe rehabilitation industry by pioneering and promoting the “pipe bursting” method of pipe replacement in Tennessee and its seven border states. In 1995, Ernie’s son, Mike Woodcock, began working at PUCC. Today, PUCC is one of the premier contractors in trenchless pipe rehabilitation servicing municipal clients across the Southeast and Texas.

“The addition of Portland Utilities bolsters our ability to deliver additional specialized services to customers in Tennessee and beyond,” said Rob Tullman, President and CEO, Aegion. “We value PUCC’s legacy in the industry and are excited to leverage their capabilities and grow together.”

PUCC facilities and employees will remain in place, including Vice President Mike Woodcock and Controller John Keck, who will continue to lead the organization for the foreseeable future.

“Our employees, past and present, are responsible for all our success at PUCC. Because of them, our customers have trusted the PUCC name for more than three decades,” said Ernie Woodcock, President, Portland Utilities Construction Company, LLC. “I thank them as we start a new chapter with Aegion and continue to deliver the highest quality service with additional resources and support.”

About Portland Utilities Construction Company, LLC

For more than 30 years, Portland Utilities Construction Company, LLC has been dedicated to the trenchless pipe rehabilitation industry by rehabilitating and replacing pipe in more than a dozen states and the District of Columbia – a total of almost 3,000,000 linear feet – using both CIPP and pipe bursting methods.

About Aegion Corporation

Since 1971, Aegion has developed and delivered products and services for aging potable and wastewater infrastructure across the globe. The company’s industry-leading, technology-enabled solutions extend the useful life of pipelines, minimize environmental disturbances, and help prevent corrosion. Aegion proudly serves customers in the municipal, industrial, and transportation markets – from consultation and design to installation and maintenance. Aegion is committed to Stronger. Safer. Infrastructure.®

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Comfort Systems USA Announces Acquisition

Business Wire | February 01, 2024

Comfort Systems USA, Inc. today announced that it has closed its previously announced transaction to acquire Summit Industrial Construction, LLC (“Summit”) headquartered in Houston, Texas. As previously disclosed, Summit is a specialty industrial mechanical contractor offering engineering, design-assist and turnkey, direct hire construction services of modular systems serving the advanced technology, power, and industrial sectors. Summit’s capabilities encompass a wide range of modular and site-based construction, including process piping, equipment setting, large pipe rack trestles, and related steel erection and specialty concrete work. Summit is a trusted supplier to some of the world’s largest advanced technology, power and industrial companies and is currently deployed on several major chip fabrication projects. Initially, Summit is expected to contribute annualized revenues of approximately $375 million to $400 million, and earnings before interest, taxes, depreciation, and amortization of $35 million to $40 million. In light of the amortization expense, Summit is expected to make a neutral to slightly accretive contribution to earnings per share in 2024 and 2025. Brian Lane, Comfort Systems USA’s Chief Executive Officer, commented, “We are delighted to announce the closing of our agreement to acquire Summit, an extremely capable provider of modular and other complex mechanical services. Summit brings a stellar reputation as a modular technology leader in growing end markets, including multiple ongoing and large semiconductor projects. We are happy to welcome Summit’s wonderful leadership team and excellent production and craft workers across many states, and we are confident Summit will continue to innovate and grow as a part of our network of world-class contracting companies. We are grateful that Summit has chosen to become part of Comfort Systems USA.”

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