One of Canada’s largest service contractors just became a whole lot bigger. On May 11 Enercare Inc. – formerly Direct Energy – announced the acquisition of Service Experts, which has contractors across Canada and the U.S.
“Through Service Experts, we become a North American market leader in home services,” said John Macdonald, president and CEO of Enercare. “The acquisition, which is a natural extension to our business, creates an opportunity to drive growth and create shareholder value.” The purchase price was $340.75 million – U.S. dollars (about $440 million Canadian.)
Founded in 1996, Service Experts is a leading provider of HVAC service and repairs and related services to residential and commercial customers in 29 states in the United States and three provinces in Canada. Headquartered in Dallas, Texas, it has 90 locations, and approximately 2,800 employees. The move will dramatically increase Enercare’s representation in the West, with locations in Winnipeg, Calgary and Edmonton. It also has locations in Kingston and Ottawa, Ont.
Service Experts serves the following market segments:
- residential HVAC service and replacement
- ancillary residential home services, including plumbing, indoor air quality and energy audits
- commercial HVAC service and replacement for both light commercial customers and national accounts
- HVAC installation in commercial and residential new construction
Ninety-five percent of its revenue comes from service and replacement.
Canadian operations will continue to be run from Enercare’s Mississauga, Ont. head office, with U.S. headquarters remaining in Dallas, said McDonald.