H.B. McClure parent buys Florida company
Harrisburg-based H.B. McClure Co., one of the region's largest commercial and residential mechanical contractor, is taking another big leap outside Central Pennsylvania.
The employee-owned contractor's parent company, HB Global LLC, said today it has acquired Nash Plumbing and Mechanical LLC, a Florida-based provider of commercial plumbing and mechanical services.
The deal will help HB Global, a holding company created in October, extend the company's geographic reach and expand its offerings in the commercial construction industry, said Bob Whalen, president and CEO.
It's the Dauphin County company's first acquisition outside of Pennsylvania. Terms of the deal were not disclosed.
Nash serves commercial construction clients in the Southeast. The privately held, family-owned company, which has been around for more than 40 years, has about 200 employees and about $40 million in annual revenue.
Nash, which is based in Wildwood, Fla., joins H.B. McClure and IT Landes as a division of HB Global.
H.B. McClure bought Montgomery County-based IT Landes in 2014, the largest acquisition in H.B. McClure's history. The deal helped the company expand its reach into the Philadelphia area.
In September, H.B. McClure overhauled its executive structure to build on its growth over the last decade. The company has made 12 other acquisitions since 2010.
Acquisitions, along with organic growth, boost the value of shares held through the company's employee stock ownership program.
Collectively, the three divisions under HB Global offer a variety of mechanical services, including HVAC, plumbing and electrical installation, service, maintenance and repair for both residential and commercial clients.
Prior to the Nash deal, H.B. McClure had about 520 full-time employees. The company finished 2016 with $80.8 million in revenue. It's one of the 100 largest private companies in Central Pennsylvania, by revenue, according to Business Journal records.