Mechanical Contractors buying back companies from utilities

Kelly Faloon

I'm writing an article for Plumbing & Mechanical on the history of utilities buying up mechanical contractors years ago, and now selling them off. Does anyone remember or know of any contractors that bought back their companies from utilities? Or if you have been in that situation, care to share your experiences?

Thanks,

Kelly Faloon
Managing editor, Plumbing & Mechanical

Bob_75

I can think of two mechanical contractors who bought back their company.

Denron Plumbing in Manchester NH

Precision Mechanical in Manchester NH

Steamhead (in transit)

Kelly, will this cover just utilities

or any "consolidator" that has bought up a lot of contracting companies?

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Kelly Faloon

Concentrating on utilities

...but interested in people buying back companies from consolidators, too. May go as a sidebar. Or, separate story in another issue if there is enough info.

Kelly

Kelly Faloon

I'm familiar with Denron

I knew they were with SELECT Energy until recently. Not familiar with Precision Mechanical; was that company also with Select?

Kelly

Dan Foley

Mechanicals

A few I can think of off the top of my head:


Calvert-Jones and Ridge Mechanical (Blue Dot) from Northwest

Cropp-Metcalfe bought Primary Multicraft which was made up of 20+ companies consolidated by Washington Gas/Thayer Capital

Colonial Mechanical out of Richmond





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Steamhead (in transit)

My partner's old company

L.H. Cranston- bought by First Energy (which is a holding company, not a utility per se IIRC) and recently sold to a group of Baltimore-area investors.

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Robert O'Connor_12

Buy back

Public Service Electric & Gas (PSE&G) in New Jersey bought Frank McBride Mechanical contractors and then sold it back for pennies on the dollar. There have been some spin off's though. Frank McBride's BFR now is the BFR of the utilities sub-contractor who has been installing residential gas water heaters and boilers through the utility.

http://www.msnbc.msn.com/id/6737410

http://www.findarticles.com/p/articles/mi_hb4348/is_199908/ai_n15191168

Robert O'Connor/NJ


ps: PSE&G is in the final stages of being bought out by Exelon (sp) which will probably make it the largest utility in the country.

Pat Follo

Plumbing and Mechanical Contractors

Select Energy just sold its mechanical contracting firm in Connecticut about six months ago to Harrington Engineering, Inc. If I'm not mistaken, Select Energy is or at least was affiliated with Northeast Utilities.

Bob_75

I believe Precision was owned by Northeast Utility.

Ranger_2

MaNy

McBride/Struble (PSE&G),
Binsky & Snyder (Keyspan),
Active Conditioning (Keyspan) *Binsky bought out*,
Unitemp (Peco)*bought by Mechanical Degrees 2006*,
Fritz (Keyspan)

Robert O'Connor_12

ranger

When did Binsky buy Unitemp(peco)? Was this just for their B-book sevices spinoff and not for construction, right??

I worked for Binsky Snyder back in the 80's. They used to get some nice jobs. I loved the kind of work they would get too.


Robert O'Connor/NJ

Ken D.

Buy Backs

Elliott- Lewis Co. in Philadelphia was recently bought back from First Energy by the previous owner.