Acquisitions

6 Months Ended

Jun. 30, 2011

Acquisitions

Acquisitions

4. Acquisitions

• Acquisition of ColonialWebb

        On July 28, 2010, we entered into a stock purchase agreement to purchase all of the issued and outstanding stock of ColonialWebb Contractors Company ("ColonialWebb"). ColonialWebb operates as a comprehensive, single-source construction, service, manufacturing and refrigeration service firm servicing the Mid-Atlantic region. ColonialWebb is headquartered in Richmond, Virginia with seven other locations.

        The acquisition date fair value of consideration transferred was $110.3 million, of which $49.9 million was allocated to goodwill. Our consolidated balance sheets include preliminary allocations of the purchase price to the assets acquired and liabilities assumed based on estimates of fair value, pending completion of final valuation and purchase price adjustments.

• Other Acquisitions

        We completed one acquisition in the first quarter of 2011 and one acquisition in the first quarter of 2010. These two acquisitions were not material and were "tucked-in" with two existing operations. Our consolidated balance sheet includes preliminary allocations of the purchase price to the assets acquired and liabilities assumed based on estimates of fair value, pending completion of final valuation and purchase price adjustments. The results of operations of acquisitions are included in our consolidated financial statements from their respective acquisition dates. Additional contingent purchase price ("earn-out") has been or will be paid if certain acquisitions achieve predetermined profitability targets.