JACKSONVILLE, Fla. — Fortune 500 company EMCOR Group, Inc. announced Tuesday that it has entered a definite purchase agreement for the Miller Electric Company.
After a unanimous decision by both companies’ board of directors, the Jacksonville-based electric contractor will be sold for $865M cash.
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The purchase is meant to help further EMCOR’s reach in Florida and and the Southeastern United States - where Miller Electric currently generates about 90% of its revenue.
According to the announcement, Miller Electric has more than 1,000 clients and employs more than 3,500 workers.
After nearly 100 years of operation, the company has become a household name in Jacksonville. Its now the namesake for the Jacksonville Jaguars’ Miller Electric Center training facility, which opened back in 2023.
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“Joining forces with EMCOR will allow us to further enhance our services and offerings, leveraging additional resources to expand our reach and continue leading the way in serving our clients in the evolving energy and infrastructure landscape,” said Henry Brown, Chief Executive Officer at Miller Electric. “We are confident EMCOR is the right partner for us, bringing a long-term approach and deep understanding of our business, culture, and values. EMCOR will allow us to reach our full potential as a company and create even more opportunities for our employees and the communities we serve. We look forward to continuing our growth for years to come as part of the EMCOR family of companies.”
The deal is expected to close in the first half of 2025. Once complete, Miller Electric will maintain its brand and current headquarters in Jacksonville while operating in EMCOR’s Electric Construction Services segment. The company says Henry Brown will continue to serve as CEO of Miller Electric along with the current leadership team.
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