Electrical and Mechanical Services Department

DXP Enterprises, Inc. Completes Acquisition of Alliance Pump & Mechanical Service, Inc.

Retrieved on: 
Friday, November 3, 2023
Other Transport, Food, Beverage, Manufacturing, Retail, Transport, Supply Chain Management, Commercial Building & Real Estate, Mining, Minerals, Construction & Property, Forest Products, Utilities, Oil, Gas, Coal, Agriculture, Alternative Energy, Natural Resources, Energy, Nuclear, Chemicals, Plastics, Yee, Water, Electrical and Mechanical Services Department, DXPE, EBITDA, DXP, GAAP, Acquisition, Schwarze Pumpe power station, Depreciation, Central Region, Pump, Bookkeeping, Airline

DXP Enterprises, Inc. (NASDAQ: DXPE) today announced the completion of the acquisition of Alliance Pump & Mechanical Service, Inc (“Alliance”), a leading municipal and industrial pump sales, service, and repair company.

Key Points: 
  • DXP Enterprises, Inc. (NASDAQ: DXPE) today announced the completion of the acquisition of Alliance Pump & Mechanical Service, Inc (“Alliance”), a leading municipal and industrial pump sales, service, and repair company.
  • Alliance is focused on serving customers in the chemical, water/wastewater, municipal, and general industrial markets with approximately 9 employees.
  • David R. Little, Chairman, and Chief Executive Officer remarked, “We are pleased to welcome the Alliance employees to the DXP team.
  • Alliance is our third acquisition this year and is another exciting addition to DXP.

ServiceTrade Announces Mechanical Trades Advisory Board

Retrieved on: 
Tuesday, October 17, 2023
MSCA, Advisory board, AO, National Board of Boiler and Pressure Vessel Inspectors, Female, Air conditioning, Former, Organization, Management, Culture, Heat, HVAC, Electrical and Mechanical Services Department, Growth, Software, Ariz, Ferris, Ventilation, Heating, ventilation, and air conditioning, Nursing

The members of the Advisory Board include:

Key Points: 
  • The members of the Advisory Board include:
    Brad Boggs, President at B&W Mechanical: Brad started his career at B&W Mechanical as a technician and has since held multiple roles in account and service management over the past 20+ years.
  • Brad is also actively involved in multiple boards, such as the MCAG HVAC Service Advisory Board and the MTI/JATT HVAC Service Advisory Board.
  • “I am honored to join the country's number one Service Software Advisory Board,” said Russ Borst, VP of Service at Hurst Mechanical.
  • "We are thrilled to welcome these esteemed professionals to our Advisory Board,” said Billy Marshall, CEO of ServiceTrade.

Team, Inc. Reports Second Quarter 2023 Results

Retrieved on: 
Thursday, August 10, 2023
Electrical and Mechanical Services Department, Team, GAAP, EBIT, Sale, IHT, EBITDA, Inspection, Depreciation, Adjustment, Annual report, NYSE, Video game, Retail, Pharmaceutical industry

SUGAR LAND, Texas, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the second quarter ended June 30, 2023.

Key Points: 
  • Grew consolidated Adjusted EBITDA2 to $17.4 million (7.3% of consolidated revenue), up from $5.7 million (2.6% of consolidated revenue) in the 2022 second quarter.
  • Unfavorable foreign exchange rate movements in the 2023 second quarter reduced consolidated revenue growth by $1.8 million.
  • In the second quarter of 2023, consolidated gross margin was $60.9 million, or 25.4% of revenue, up 190 basis points from 23.5%, or $52.1 million, in the same quarter a year ago.
  • Consolidated net loss in the second quarter of 2023 was $15.8 million ($3.61 loss per share) compared to a net loss from continuing operations of $28.2 million ($6.53 loss per share) in the second quarter of 2022.

Registration Opens for 16th Singapore International Energy Week (SIEW)

Retrieved on: 
Friday, July 28, 2023
Carbon, Energi, Hydrogen, SIEW, SAR, World Energy Council, Policy, Medco, Senior counsel, Electrical and Mechanical Services Department, PJM Interconnection, II, EMA, Natural gas, Energy market, Entrepreneurship, Marina Bay Sands, Singapore Green Plan 2012, III, Forum, Conference, Electricity, Temasek Holdings, Tutoring, Management, Medical device, Renewable energy, LNG

Organised by the Energy Market Authority of Singapore (EMA), the 16th SIEW will feature energy ministers and industry captains who will share their perspectives on this year's theme, "Energy Transition Towards a Net Zero World".

Key Points: 
  • Organised by the Energy Market Authority of Singapore (EMA), the 16th SIEW will feature energy ministers and industry captains who will share their perspectives on this year's theme, "Energy Transition Towards a Net Zero World".
  • SIEW Energy Insights , SIEW TechTable and SIEW Thinktank Roundtables : These events will facilitate knowledge exchange and discussions on emerging trends and innovations driving the region's energy transition.
  • V. SIEW Energy Showcase: A showcase of the latest industry trends, clean energy solutions, and sustainable practices driving Singapore's and Asia's net zero transition.
  • SIEW 2023 welcomes returning industry events:
    I. Asia Clean Energy Summit : Summit will discuss topics including Solar and Energy Storage, Electric Mobility and Energy Efficiency for the low-carbon transition.

NaaS Acquires over 89% Stake in Sinopower HK

Retrieved on: 
Tuesday, June 13, 2023
Benson, EV, NAAS, Hong Kong International Airport, EPC, Electrical and Mechanical Services Department, Network as a service, SPO, PV, EVS, Cheng, International airport, HKEX, Electricity, HK, Renewable energy, Consultant, Property management, Estate

Sinopower HK specializes in Estates and commercial/industrial rooftop solar PV project development.

Key Points: 
  • Sinopower HK specializes in Estates and commercial/industrial rooftop solar PV project development.
  • Wang Yang, Founder and CEO of NaaS, commented, "I am thrilled to include Sinopower within the NaaS platform.
  • I believe that together with NaaS, Sinopower will be able to deliver even more solar projects, leveraging NaaS's capabilities to expand into areas such as EV charging.
  • "Becoming part of the NaaS platform will give us a unique and significant edge in this exciting market," said Benson Ng, founder and CEO of Sinopower.

Team, Inc. Reports First Quarter 2023 Results

Retrieved on: 
Thursday, May 11, 2023
Electrical and Mechanical Services Department, Team, GAAP, EBIT, Sale, MS, IHT, EBITDA, Inspection, Depreciation, Adjustment, NYSE, Video game, Pharmaceutical industry, Bank

SUGAR LAND, Texas, May 11, 2023 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE: TISI) (“TEAM” or the “Company”), a global, leading provider of specialty industrial services offering clients access to a full suite of conventional, specialized, and proprietary mechanical, heat-treating, and inspection services, today reported its financial results for the first quarter ended March 31, 2023.

Key Points: 
  • Increased first quarter 2023 revenues to $202.3 million, up $13.2 million or 7% over the 2022 first quarter, and up nearly 9% after adjusting for unfavorable foreign currency exchange movement.
  • Improved first quarter 2023 gross margin by 14% to 23.2% of revenue, up 150 basis points from the first quarter of 2022.
  • Reported first quarter 2023 net loss of $24.7 million, an improvement of $13.6 million over the $38.3 million net loss in the first quarter of 2022.
  • Unfavorable foreign exchange rate movements in the 2023 first quarter reduced consolidated revenue growth by $3.2 million.

Team, Inc. Completes Sale of Quest Integrity Business

Retrieved on: 
Tuesday, November 1, 2022
Security (finance), TEAM, Kirkland & Ellis, U.S. Securities and Exchange Commission, Vaccination, Electrical and Mechanical Services Department, Quest, GLOBE, NYSE, COVID-19, Safety, Maintenance, Sale, Pandemic, Weather, Private Securities Litigation Reform Act, Company, Sumathi Best Television Current Reporting Award, Accident, Team, Solution, Risk management

The net proceeds to the Company (after payment of transaction related expenses and certain other fees) will be approximately $270 million.

Key Points: 
  • The net proceeds to the Company (after payment of transaction related expenses and certain other fees) will be approximately $270 million.
  • Keith Tucker, TEAMs Interim Chief Executive Officer, stated, We are pleased to close the Quest Integrity transaction, which represents an important step in our plan to refocus TEAM on its core Inspection and Heat Treating and Mechanical Services businesses.
  • We expect further improvements as our action plan accelerates, giving us increased confidence in our ability to enhance shareholder value.
  • Headquartered in Sugar Land, Texas, Team, Inc. is a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions.

Team, Inc. Announces Sale of Quest Integrity Business

Retrieved on: 
Monday, August 15, 2022
U.S. Securities and Exchange Commission, Kirkland & Ellis, Lists of disasters, NYSE, GLOBE, Private Securities Litigation Reform Act, Sale, Quest, Board, Electrical and Mechanical Services Department, Sumathi Best Television Current Reporting Award, Security (finance), Team, LLP, TEAM, Engineering, COVID-19, Company, Safety, Pandemic, Accident, Vaccination, Maintenance, Board of directors, Weather, Solution, Organization, Risk management

As a result of the Companys ongoing portfolio review to streamline its operations and unlock value, the Company has agreed to sell its Quest Integrity business, which constitutes Teams advanced inspection and engineering operations and reliability management business segment.

Key Points: 
  • As a result of the Companys ongoing portfolio review to streamline its operations and unlock value, the Company has agreed to sell its Quest Integrity business, which constitutes Teams advanced inspection and engineering operations and reliability management business segment.
  • The sale is expected to close in the fourth quarter of 2022, subject to customary closing conditions and regulatory approvals.
  • This sale is an important step in our transformation plan and going forward, we are excited about the prospects for our business as we work to implement targeted growth and business improvements in order to drive improved profitability.
  • The Quest Integrity business generated over $80 million in revenues in 2021 and reported approximately $59 million in revenues through the six months ended June 30, 2022.

PremiStar Acquires Mechanical Service, Inc. in Iowa City

Retrieved on: 
Friday, August 12, 2022
Education, Acquisition, Electrical and Mechanical Services Department, MSI, HVAC, Solution, Government, CEO, GLOBE, Heating, ventilation, and air conditioning, Management

DEERFIELD, Ill., Aug. 12, 2022 (GLOBE NEWSWIRE) -- PremiStar , a leader in commercial and industrial HVAC, plumbing, and building automation services has acquired Mechanical Service, Inc. (MSI), a leading commercial HVAC contractor in Iowa City, IA.

Key Points: 
  • DEERFIELD, Ill., Aug. 12, 2022 (GLOBE NEWSWIRE) -- PremiStar , a leader in commercial and industrial HVAC, plumbing, and building automation services has acquired Mechanical Service, Inc. (MSI), a leading commercial HVAC contractor in Iowa City, IA.
  • MSI has been providing sales, service and repair of HVAC systems, plumbing, and piping to local businesses since 2008.
  • Mechanical Service, Inc. is the 20th acquisition for PremiStar since 2019.
  • PremiStar, formerly Reedy Industries, was founded in 1930 and is headquartered in Deerfield, IL, just outside Chicago.

LONG Building Technologies selects Microsoft Dynamics 365 ERP and CRM platform along with SIS Construct 365 Solution Suite to secure its building integration growth.

Retrieved on: 
Tuesday, August 9, 2022
Project accounting, Multimedia, Electrical and Mechanical Services Department, Multi-project wafer service, SIS, Professional, Industry, Kratos Defense & Security Solutions, Leadership, Microsoft Dynamics 365, Environment, Microsoft, CRM, Microsoft Dynamics, Building automation, Solution, ERP, Project, Part

DULUTH, Ga., Aug. 9, 2022 /PRNewswire/ -- SIS, a Microsoft Gold Certified Partner, and leading implementer of ERP and CRM solutions for Specialty Contractors and Professional Service firms built on Dynamics 365, is pleased to announce:

Key Points: 
  • DULUTH, Ga., Aug. 9, 2022 /PRNewswire/ -- SIS, a Microsoft Gold Certified Partner, and leading implementer of ERP and CRM solutions for Specialty Contractors and Professional Service firms built on Dynamics 365, is pleased to announce:
    LONG Building Technologies has selected the Microsoft Dynamics 365 ERP and CRM platform, as well as the full suite of SIS Construct 365 solutions, built for Microsoft Dynamics 365.
  • The SIS cloud-based solution will help Long Building Technologiescontinue its exponential growth and provide a flexible, robust, and connected system.
  • After a lengthy selection process, LONG chose SIS and Microsoft Dynamics 365 and SIS Construct 365 suite of solutions as the right solution and team for our business needs.
  • We feel confident in our choice with Microsoft Dynamics 365 and SIS Construct 365 suite of products for our digital transformation."