PP&L Resources, Inc., announced today (6/26) that it has reached an agreement to acquire one of the premier heating, ventilating and air-conditioning firms in the state.
William F. Hecht, chairman, president and chief executive officer of PP&L Resources, Inc., said the acquisition of McClure Company of Harrisburg will further expand PP&L Resources' ability to offer energy management, heating, ventilating and air-conditioning services to large commercial and industrial customers throughout Pennsylvania and neighboring states. It also expands the company's efforts to gain revenues outside the regulated side of its business.
Hecht said McClure Company, which has annual revenues of more than $75 million, will retain its name and operate as a subsidiary of PP&L Resources, Inc., with William E. McClure Jr. continuing as chief executive officer and Ned Gibble as president and chief operating officer.
Hecht said adding McClure Company to the PP&L Resources, Inc., family of companies is an excellent way for PP&L Resources to further expand its full-service energy business, which it is marketing under the PP&L EnergyPlusTM brand.
"We understand the expectations of our large commercial and industrial customers, and we are responding to those expectations by expanding our capabilities to deliver a wide range of energy services," said Hecht. "Through our various subsidiaries — PP&L, Inc.; PP&L Spectrum, Inc.; H. T. Lyons, Inc.; and now McClure Company — we are able to offer services ranging from energy supply and management services to the design and construction of heating, ventilating and air-conditioning systems."
"By combining the expertise of Spectrum, Lyons and McClure, we can provide integrated energy services to our large customers," said Dan Persa, PP&L Spectrum vice president. "For example, energy-management contracts like the ones PP&L Spectrum recently signed with the city of Bethlehem and the School District of Lancaster will have immediate paybacks with state-of-the-art heating and cooling solutions, energy-efficient lighting and integrated energy-management services for all of the buildings involved. This is the kind of value-added service PP&L Spectrum offers customers throughout Pennsylvania and beyond."
Hecht pointed out that PP&L Resources' pending acquisition of Penn Fuel Gas, a natural gas and propane company, will further expand the company's available offerings to customers.
"McClure Company has an impressive customer base and a 45-year history of providing quality services. We are very pleased to welcome the McClure Company, Bill McClure himself and his excellent staff to the PP&L Resources family of companies," said Hecht.
"PP&L Resources' proven commitment to high-quality customer service and its outstanding reputation makes this an excellent move for McClure Company, its customers and its employees," Bill McClure said. "We look forward to being a part of the PP&L Resources family."
Founded in 1953, McClure Company provides both construction and maintenance services related to air conditioning, heating, plumbing and process piping. McClure Company operates in eastern and central Pennsylvania, excluding the immediate Philadelphia area, with its main office in Harrisburg. The company also has performed work on a limited basis for specific customers in New Jersey, South Carolina, Kentucky and Illinois.
McClure Company employs about 550 employees. The terms of the merger were not disclosed. The closing of the merger, which is subject to the expiration of the antitrust waiting period and satisfaction of certain other closing conditions, is expected to occur in about a month.