Comfort Systems USA to acquire TAS Energy

Comfort Systems USA, Inc. entered into an Agreement and Plan of Merger to acquire TAS Energy Inc. through a merger with its wholly owned subsidiary OSC Acquisition Corp. The initial purchase price is $106 million in cash plus a $14 million promissory note, with additional earn-out payments based on future EBITDA performance.

“On March 9, 2020, Comfort Systems USA, Inc. (the “Company”) entered into an Agreement and Plan of Merger (the “Merger Agreement”) dated as of March 9, 2020 with its wholly owned subsidiary, OSC Acquisition Corp. (“Merger Sub”), TAS Energy Inc. (“TAS Energy”), and Element Partners II, L.P., in its capacity as the exclusive representative of the stockholders of TAS Energy (“TAS Stockholders”). The Merger Agreement provides that Merger Sub will merge with and into TAS Energy and each outstanding share of TAS Energy capital stock will be canceled and converted into the right to receive a portion of the merger consideration (described below) upon the terms and conditions set forth in the Merger Agreement. Upon the consummation of this merger, TAS Energy will become a wholly owned subsidiary of the Company.”

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