Emcor Group (EME) said Tuesday it has agreed to acquire electrical contractor Miller Electric for $865 million in cash.
The transaction, approved by the boards of both companies, is expected to be "modestly accretive" to Emcor's earnings per share this year with further accretion in the future, the company said.
Upon the deal's anticipated completion in H1, Miller Electric will operate within Emcor's electrical construction services segment, with Henry Brown continuing to serve as chief executive of Miller Electric, Emcor added.
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