Harris Williams & Co. Advises ColonialWebb Contractors in its Sale to Strategic Buyer Comfort Systems USA
Harris Williams & Co. is pleased to announce that ColonialWebb Contractors (ColonialWebb) has been acquired by Comfort Systems USA (CSUSA; NYSE:FIX) the nation's second largest provider of mechanical construction and service. The transaction, which closed on July 28, 2010, was executed by Harris Williams & Co. and led by Mike Hogan, Derek Lewis and Marshall Croft from the firm's Richmond office.
ColonialWebb is a comprehensive, single-source mechanical and electrical contracting firm with offices in Richmond, Manassas, Newport News, Norfolk and Roanoke, Virginia, Charlotte, North Carolina and Greenville, South Carolina. The company will continue to operate under the name ColonialWebb and be headquartered in Richmond. ColonialWebb's management team will remain in place and the transaction is not expected to impact the company's workforce in Virginia, Maryland, North Carolina and South Carolina.
Comfort Systems USA is a leading provider of mechanical construction and service. CSUSA has subsidiaries operating offices in over 80 cities and had combined revenues of over $1.1 billion in 2009. The company's headquarters is in Houston, Texas.
"Overall, this transaction represents a tremendous outcome for both parties," said Mike Hogan, a Managing Director at Harris Williams. "ColonialWebb is a terrific company with a long history of providing superior construction, maintenance and repair contracting services to a wide range of commercial, institutional and industrial customers. We look forward to watching the continued success of the company under the ownership of Comfort Systems."
Harris Williams & Co. is one the leading advisors to middle market companies serving the construction services and building products & materials markets, with ColonialWebb representing the firm's 30th closed advisory transaction in these segments since 2006.