Comfort Systems USA , Inc . has entered into a definitive agreement to acquire Summit Industrial Construction , LLC ( Summit ) |
headquartered in Houston , Texas . The transaction is currently expected to close in the first quarter of 2024 . |
Summit is a specialty industrial mechanical contractor offering engineering , designassist , 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 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 USD 360M to USD 400M , and earnings before interest , taxes , depreciation , and amortization of USD 30M to USD 45M . 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 . Comfort Systems USA ® is a provider of commercial , industrial , and institutional heating , ventilation , air conditioning , and electrical contracting services , with 169 locations in 129 cities across the nation . |
Danfoss has acquired ENFOR ’ s district energy software and will bring the solutions to the global market under the Danfoss Leanheat ® suite of sustainable heating and cooling solutions . The Danfoss Leanheat ® solution combines cutting-edge technology , data analytics , and artificial intelligence to optimize energy consumption and improve the operational efficiency of district energy and buildings . Danfoss has been a minority shareholder in ENFOR since 2020 . By fully acquiring ENFOR ’ s district heating software business , Danfoss enhances the capabilities and accuracy of its Leanheat network suite for district energy |
utilities to include data-driven temperature optimization , intelligent load forecasting , and micro weather forecasting , which support district energy utilities and energy companies with their green transitions . ENFOR is an innovative spinoff from the Danish Technical University and delivers solutions for forecasting and optimization of energy production and demand , incl . optimization of district energy systems . The potential of using data and machine learning in the energy sector is massive . The latest Danfoss Impact White Paper reveals that an ambitious but realistic roll out of demand-side flexibility technology in the EU and |
UK can save 40 million tons of CO2 emissions each year by 2030 , more |
than Denmark ’ s domestic climate footprint . |