| Comfort Systems USA, Inc. | |||
| Ticker: | FIX | 4801 Woodway Drive, Suite 300E | |
| Exchange: | New York Stock Exchange | Houston, TX 70056 | |
| Industry: | Construction (SIC Code 1711) | (713) 964-2685 | |
| Type of Shares: | Common Shares | Filing Date: | 3/26/97 | |
| U.S. Shares: | 6,100,000 | Offer Date: | 6/27/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $11.00 - $13.00 | |
| Primary Shares: | 6,100,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $73,200,000 | Selling: | $0.52 | |
| Expenses: | $4,000,000 | Reallowance: | $0.10 | |
| Shares Out After: | 20,060,774 |
| Manager | Tier | Phone |
| Alex. Brown & Sons Incorporated | Lead Manager | (410) 895-2700 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Issuer's Law Firm: | Bracewell & Patterson |
| Bank's Law Firm: | Piper & Marbury |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $167.53 | Assets: | $149.24 | ||
| Net Income: | $8.91 | Curr Assets: | |||
| EPS: | $0.49 | Liabilities: | $86.09 | ||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | Equity: | $63.16 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company was founded in 1996 to become a leading national provider of comprehensive HVAC installation services and maintenance, repair and replacement of HVAC systems, focusing primarily on the commercial and industrial markets. The company's commercial and industrial applications include office buildings, retail centers, apartment complexes, hotels, manufacturing plants and government facilitates. The cmpany also provides specialized HVAC applications such as process cooling, control systems, electronic monitoring and process piping. Approximately 90% of the company's pro forma combined 1996 revenues of $167.5 million was derived from commercial and industrial customers, with approximately 53% of combined revenues attributable to installation services and 47% attributable to maintenance, repair and replacement services. Combined revenues of the Founding Companies, which have been in business an average of 39 years, increased at a compound annual growth rate of approximately 16% from 1994 through 1996. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the purchase price for the Founding Companies, to repay expenses incurred in connection with the organization of Comfort Systems and the Offering and for general corporate purposes including future acquisitions. |