Enercare to acquire PE-backed Service Experts for $341 mln

Enercare Inc (TSX: ECI) has agreed to buy SEHAC Holdings Corp, a.k.a. Service Experts, a heating, ventilating, and air conditioning (HVAC) services and repairs specialist based in Dallas, Texas. The acquisition is valued at US$340.75 million and is expected to close in the second quarter of 2016. Enercare, a Canadian home and commercial services and energy solutions business, said the deal will support its expansion in North America, in part through access to the U.S. HVAC services market. Established in 1996, Service Experts is a portfolio investment of U.S. private equity firm American Capital. American Capital acquired the company in March 2013.

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