M&A Deal Summary

EMCOR Group Acquires Ardent Services

On March 21, 2016, EMCOR Group, Inc. acquired energy services and equipment company Ardent Services LLC from Cadent Energy Partners LLC for 205M USD

Acquisition Highlights
  • This is EMCOR Group’s 2nd transaction in the Energy Services and Equipment sector.
  • This is EMCOR Group’s 4th largest (disclosed) transaction.
  • This is EMCOR Group’s 11th transaction in the United States.
  • This is EMCOR Group’s 1st transaction in Louisiana.

M&A Deal Summary

Date 2016-03-21
Target Ardent Services LLC
Sector Energy Services and Equipment
Buyer(s) EMCOR Group, Inc.
Sellers(s) Cadent Energy Partners LLC
Deal Type Add-on Acquisition
Deal Value 205M USD
Advisor(s) Harris Williams & Co. (Financial)

Target

Ardent Services LLC

Covington, Louisiana, United States
website
Ardent Services LLC is a provider of electrical and instrumentation services to hydrocarbon processing plants, offshore oil and gas production platforms, offshore drilling rigs, midstream natural gas infrastructure and industrial process plants.

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Buyer(S) 1

Buyer

EMCOR Group, Inc.

Norwalk, Connecticut, United States

website


Category Company
Founded 1987
SectorEngineering
Employees33,000
Revenue 8.8B USD (2020)
DESCRIPTION
EMCOR's corporate headquarters in Norwalk, Connecticut.
EMCOR's corporate headquarters in Norwalk, Connecticut.

EMCOR provides mechanical and electrical construction, industrial and energy infrastructure, and facilities services. EMCOR was founded in 1987 and is based in Norwalk, Connecticut.


DEAL STATS #
Overall 11 of 15
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 9 of 13
State (Louisiana) 1 of 1
Country (United States) 11 of 15
Year (2016) 2 of 3
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-21 Rabalais Constructors LLC

United States

Rabalais Constructors LLC is a refinery electrical and instrumentation services provider to energy industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-05 Newcomb and Co.

Raleigh, North Carolina, United States

Newcomb and Co. is a full service HVAC commercial and industrial mechanical contractor.

Buy -

Seller(S) 1

SELLER

Cadent Energy Partners LLC

Rye Brook, New York, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
SizeMiddle-Market
Type Sector Focused
DESCRIPTION

Cadent Energy Partners LLC is a private equity firm that invests in small to medium-sized North American based companies in the energy industry. Specific areas of interest include exploration and production; drilling and completion; non-conventional hydrocarbon developments; oilfield services and equipment; oil and gas transportation; refining equipment and services; petroleum products distribution and storage; power equipment and services; and renewable energies. Cadent looks to provides expansion capital to firms that want to accelerate growth. Cadent generally invests between $25 and $50 million per transaction in businesses generating revenues of $10 to $100 million. In addition to providing expansion capital, Cadent also finances private mergers or acquisitions, corporate divestitures or spinouts, and restructuring situations. Cadent Energy was formed in 2003 and is based in Rye Brook, New York with an additional office in Houston, Texas.


DEAL STATS #
Overall 6 of 7
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 4 of 5
State (Louisiana) 1 of 1
Country (United States) 5 of 6
Year (2016) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-30 SustainX, Inc.

Seabrook, New Hampshire, United States

SustainX, Inc. is an electrical energy storage technology development company. SustainX was founded in 2007 and is based in Seabrook, New Hampshire.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-01 Torqued-Up Energy Services, Inc.

Tyler, Texas, United States

Torqued-Up Energy Services, Inc. is a provider of coiled tubing and pressure pumping services in Texas, Oklahoma, and Louisiana.

Sell -