Harris Companies Acquire Large Mechanical Contractor
Mechanical contractor The Harris Companies have acquired 100 percent interest in Superior Air Handling Corp., an employee-owned sheet metal contractor, of Clearfield, Utah. According to Harris President and CEO Greg Hosch, “acquiring Superior is one more piece of the strategy of growing by acquisition, as well as internally.” Harris Cos. recently purchased Climate Control (Phoenix) in November 2007. The Superior acquisition will grow Harris revenues by $30 to $50 million per year, and represents a significant strengthening of their brand in the target markets of the West, Southwest and Midwest.
For Harris Cos., the deal makes sense for several reasons, the company reported:
- It reinforces the company’s presence in these target markets
- The companies share owner and general contractor customers, while they have a lot of room to grow
- They are both relation-based contractors
- They prefer to pursue complex, high-tech jobs in markets like healthcare
- They both use the same 3D modeling software, which will enable them to design and fabricate for each other