Emcor (EME) Announces Agreement to Acquire P1 Construction, LLC

Emcor Group (NYSE: EME) said it has signed a definitive agreement to acquire P1 Construction LLC, a Lenexa, Kansas-based mechanical and electrical contractor, in an all-cash transaction with terms undisclosed. P1, founded in 1919, serves high-growth Midwestern markets and provides single-source mechanical and electrical services. The deal expands Emcor's electrical and mechanical contracting footprint in the Midwest, where P1 has established positions in fast-growing end markets. Emcor did not disclose the purchase price or P1's revenue and earnings, leaving investors to await deal economics and any contribution guidance. Watch for further disclosure on valuation and financing, and for the transaction's expected closing timeline and regulatory review.