Comfort Systems USA divests 19 subsidiaries to reduce debt

Comfort Systems USA sold 19 subsidiaries (including its largest operating unit Shambaugh & Sons) to EMCOR, planning to use about $160 million of proceeds to reduce debt and strengthen its balance sheet, partly unwinding its late-1990s buying spree.

“Comfort Systems plans to use about $160 million to reduce debt and substantially strengthen its balance sheet.”

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