New TECO Energy subsidiary to provide customized design, construction and energy services
TAMPA, September 11, 2000
TECO Energy, Inc.’s BGA subsidiary today announced that it has combined operations with Largo-based BCH Mechanical, Inc., and its affiliated companies. BCH Mechanical is one of the leading mechanical contracting firms in Florida, with more than $40 million in annual sales.
The resulting new business will be a TECO Energy subsidiary known as TECO Solutions. TECO Solutions will deliver customized energy-efficient design and new construction/remodeling projects for commercial and public sector clients. This combination of service offerings is unique in Florida.
TECO Energy Chairman and CEO Robert Fagan said, "With the complementary strengths of BGA and BCH Mechanical, we will create a new kind of Florida company, one that offers a full range of energy products and services for customers throughout the state."
Bill Cantrell, current president of BGA, will serve as president of TECO Solutions.
"This combination creates an opportunity for TECO Energy to be at the forefront of the changes anticipated in the dynamic Florida market. We will be uniquely positioned to help companies in a variety of industries maximize their energy efficiency and make cost-effective capital improvements to their facilities," said Cantrell.
TECO Solutions combines BGA’s proven strength in design and BCH Mechanical’s construction, operations and maintenance capabilities.
This combination is expected to allow the companies to significantly improve their price/performance on comprehensive turnkey projects because the entire scope of projects can be handled in-house.
BCH Mechanical President Stephen Blume said, "Joining forces with TECO Energy will allow the BCH family of companies to accelerate the growth of our construction and service base. The parent company’s financial strength, combined with BGA’s design and performance contracting market presence, will enhance our ability to serve our customers and to provide opportunities for our employees."
The company said it expects the acquisition to be accretive to earnings in the first full year.
TECO Solutions’ corporate headquarters will be located in Tampa, with Florida offices in Cocoa Beach, Ft. Lauderdale, Ft. Myers, Jacksonville, Largo, Miami, Orlando, Pensacola, Sarasota, Tallahassee and West Palm Beach, and California headquarters in Walnut Creek, near San Francisco.
Formed in 1976, BCH Mechanical, Inc. has been named by several industry publications as one of the top mechanical contracting firms in the nation. Principals Stephen and Daryl Blume were named "Entrepreneurs of the Year" in 1999 by the University of South Florida.
The BCH Mechanical family of businesses includes BCH Mechanical; ConServ Building Services; Pyramid Plumbing; Express Metals; Engineering Concepts; AutoMedics; and Staffing Systems.
BCH Mechanical provides HVAC and electrical contracting services. ConServ Building Services serves the owner-direct service market with preventive maintenance programs, mechanical and electrical system retrofits and 24-hour emergency service. Pyramid Plumbing is a full-service plumbing contractor. Express Metals manufactures and installs sheet metal and installs ductwork.
Bosek, Gibson and Associates is a subsidiary of TECO Energy, Inc. (NYSE: TE). TECO Energy is a diversified, energy-related holding company headquartered in Tampa. Its other principal businesses are Tampa Electric, Peoples Gas, TECO Transport, TECO Power Services, TECO Coal and TECO Coalbed Methane.