Comfort Systems USA, Inc., a leading provider of commercial, industrial and institutional heating, ventilation and air conditioning ("HVAC") services, announced on April 8 that it has entered into an agreement to acquire Dyna Ten Corporation, headquartered in Fort Worth, Texas.
Dyna Ten is a regional mechanical contractor based in Fort Worth, TX. It engages in a broad range of mechanical contracting projects, HVAC service, and controls in the Dallas/Fort Worth metroplex and in surrounding areas. Initially Dyna Ten is expected to contribute annualized revenues of approximately $70 million to $80 million, at profitability levels that are generally equal to or above those currently experienced by Comfort Systems USA operations.
The transaction is currently scheduled to close on or about May 1, 2014 and is subject to customary closing conditions including approval by the shareholders of Dyna Ten Corporation.
"We are extremely happy to announce that Dyna Ten is joining Comfort Systems USA. Dyna Ten has a long history of providing extraordinary outcomes for its customers in medical, industrial and commercial markets," said Brian Lane, Comfort Systems USA's chief executive officer. "This partnership with Dyna Ten brings excellent capabilities, resources and leadership at every level, together with a tremendous reputation and solid customer relationships, and we expect that Dyna Ten will continue to grow and improve for years to come. We also believe interaction between our existing companies and Dyna Ten will strengthen and improve our existing operations in Texas, and across all of Comfort Systems USA," Lane said.
Comfort Systems USA is a premier provider of business solutions addressing workplace comfort, with 89 locations in 80 cities around the nation.