Emcor Group Inc. (NYSE: EME) is buying RepconStrickland Inc. for about $455 million, adding to a streak of deals in the energy services sector.
The target, headquartered in La Porte, Texas, provides services to oil refineries. Services include product turnarounds, specialty maintenance, industrial construction, welding services, refractory services and inspection services. The company has five divisions, including Repcon Inc., AltairStrickland Holdings LLC, Turnaround Welding Services LLC, Diamond Refractory Services LLC and Tiger Tower Services.
Norwalk, Conn.-based Emcor provides mechanical and electrical construction services, as well and industrial and energy infrastructure services.
RepconStrickland was owned by private equity firm ArcLight Capital Partners LLC. The Boston-based firm has invested more than $10 billion since it was founded in 2001.
Drew Spitzer, Tiff Armstrong, Matt White, Chris Burnham and Oliver Brooks from investment bank Harris Williams & Co. advised RepconStrickland on the deal.
There have been several deals between companies that provide services to the oil and gas industry. In June, Savage announced it was buying Ft. Worth Pipe Services LP, and in May, MasTec Inc. (NYSE: MTZ) bought Big Country Energy Services Inc. for $103 million.
For more on oil and gas services companies, see "Pipeline Protectors."