TORONTO, Aug. 15, 2017 /CNW/ - Enercare Inc. ("Enercare") (TSX: ECI) today announced the acquisition by Service Experts Heating & Air Conditioning LLC. ("Service Experts") of the HVAC and plumbing assets of Aramendia Plumbing, Heating & Air Ltd. ("Aramendia"), an HVAC and plumbing services company, with locations in San Antonio, Texas and McKinney, Texas (part of the Dallas-Fort Worth Metroplex), for consideration of US$24 million. The acquisition complements Services Experts' industry-leading heating and air conditioning services and solutions already offered in the San Antonio and McKinney markets and introduces full-service residential plumbing.
"Aramendia has a proud 28 year history, during which it has established a trusted reputation for 24/7 emergency plumbing repairs, and has become well known in the region for professional, high quality plumbing renovations," said Scott Boose, President & CEO, Service Experts.
Founded in 1989, Aramendia has over 90 employees and more than 50 service vehicles. Former owner John Aramendia will lead Aramendia through the transition period.
As a Service Experts company, Aramendia will continue to operate as Aramendia from its locations on Brewster Drive in San Antonio and Powerhouse Street in McKinney, Texas. In addition to San Antonio and McKinney, Aramendia serves the communities of New Braunfels and San Marcos.
Enercare is headquartered in Markham, Ontario and publicly traded on the Toronto Stock Exchange (TSX: ECI). As one of North America's largest home and commercial services and energy solutions companies with approximately 4,500 employees under its Enercare and Service Experts brands, Enercare is a leading provider of water heaters, water treatment, furnaces, air conditioners and other HVAC rental products, plumbing services, protection plans and related services. With operations in Canada and the United States, Enercare serves approximately 1.6 million customers annually. Enercare is also the largest non-utility sub-meter provider, with electricity, water, thermal and gas metering contracts for condominium and apartment suites in Canada and through its Triacta brand, a premier designer and manufacturer of advanced sub-meters and sub-metering solutions.
SOURCE Enercare Inc.
For further information: Evelyn Sutherland, CFO, 416.649.1860, [email protected]