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EMCOR Group, Inc. Announces New Expanded Credit Facility

Stocks in this article: EME

EMCOR Group, Inc. (NYSE:EME), a Fortune 500® leader in mechanical and electrical construction, industrial energy infrastructure, and facilities services for a diverse range of businesses, announced that it had entered into a $1.1 billion credit agreement with a syndicate of banks led by BMO Capital Markets, Bank of America Merrill Lynch, U.S. Bank National Association, J.P. Morgan Chase Bank, N.A., and RBS Citizen’s Bank as joint lead arrangers and joint book runners.

The credit agreement is comprised of a $750 million revolving credit facility and a $350 million term loan A. The credit facility, which matures in November 2018, replaces the Company’s existing $750 million revolving credit facility. The Company is using the proceeds of the term loan to repay amounts drawn under its revolving credit facility in connection with its recently announced acquisition of RepconStrickland, Inc. The revolving credit facility will be used for working capital and other general corporate purposes. The loans under the credit agreement are secured by substantially all the assets of EMCOR and its subsidiaries.

Tony Guzzi, President and Chief Executive Officer, stated, "Our new credit agreement is a testament to our commitment to sound financial management and to the strength of our balance sheet. The credit agreement will allow us to maintain our excellent liquidity and will afford us greater financial flexibility to pursue our long-term strategic objectives and to capitalize on new growth opportunities.”

Further details of the credit agreement are provided in the Company’s Current Report on Form 8-K, which has been filed with the Securities an Exchange Commission.

EMCOR Group, Inc. is a Fortune 500® leader in mechanical and electrical construction services, energy infrastructure and facilities services. This press release and other press releases may be viewed at the Company’s Web site at www.emcorgroup.com.

This release may contain certain forward-looking statements within the meaning of the Private Securities Reform Act of 1995. Any such comments are based upon information available to EMCOR management and its perception thereof, as of this date, and EMCOR assumes no obligation to update any such forward-looking statements. These forward-looking statements may include statements regarding market opportunities, market share growth, gross profit, backlog mix, projects with varying profit margins, and selling, general and administrative expenses. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Accordingly these statements are no guarantee of future performance. Such risk and uncertainties include, but are not limited to, adverse effects of general economic conditions, changes in the political environment, changes in the specific markets for EMCOR's services, adverse business conditions, availability of adequate levels of surety bonding, increased competition, unfavorable labor productivity and mix of business. Certain of the risks and factors associated with EMCOR's business are also discussed in the Company's 2012 Form 10-K and in other reports filed from time to time with the Securities and Exchange Commission. All these risks and factors should be taken into account in evaluating any forward-looking statements.



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