GroupMac Acquires $100 Million Firm
Group Maintenance America Corp. (NYSE: MAK) has signed a definitive agreement to acquire Trinity Contractors Inc., a $100 million firm. It brings GroupMAC’s annual revenues to more than $1 billion.
Trinity Contractors, headquartered in Grand Prairie, Texas, provides a range of services, from engineering, construction and preventative maintenance to industrial, institutional and commercial customers throughout the southern United States. Trinity ranked No. 23 in the 1998 PM 100 — an annual list of the top pipe trade giants. Of the firm’s $100 million in revenues, 70 percent came from maintenance, repair and replacement services last year.
“The addition of Trinity caps a remarkable year of growth for GroupMAC,” said Patrick Millinor Jr., chief executive officer of GroupMAC. “Our annualized revenues have more than tripled, and we have added operations in 18 new markets.”
Houston-based GroupMAC has operations in 55 cities in 26 states throughout the United States, providing plumbing and mechanical services to residential and commercial customers. The company’s plan was to acquire $200 million in revenues for 1998.
“This far exceeds our publicly announced target and our own internal expectations,” said Millinor.
Terms of the purchase have not yet been disclosed.