EMCOR Group obtains $275 million credit facility

By Sara Rosenberg

New York, Sept. 30 - EMCOR Group Inc. obtained a new $275 million five-year revolving credit facility, which replaces the $150 million three-year facility that was due in June 2003. Harris Trust and Savings Bank was the lead bank on the deal.

"This new credit facility will provide us with additional working capital to grow our mechanical and electrical and facilities services businesses," stated Frank T. MacInnis, chairman and chief executive officer, in a news release. "In addition, it represents 'dry powder' for the acquisitions and strategic alliances that we continue to evaluate with a view to expanding the scope and scale of our operations."

EMCOR is a Norwalk, Conn. provider of mechanical and electrical construction services and facilities services.

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