Matrix Service Acquires S.M. Electric

Matrix Service Co. wholly owned subsidiary, Matrix Service Industrial Contractors purchases S.M. Electric Co. Inc.
The acquisition was funded with cash on hand, however, specific terms of the transaction were not disclosed.
The acquisition will increase annual revenue by more than $70 million and is expected to be immediately accretive to earnings.
Based in Rahway, N.J., S.M. Electric is a privately owned, mid-sized electrical contracting firm, which has served industrial and utility customers in the Northeast for more than 65 years.
S.M. Electric is an outstanding strategic addition to the electrical and instrumentation business that will create a strong platform for continued growth and geographic expansion, said Michael J. Bradley, president and CEO of Matrix Service.

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