AMP's parent company buys large installation firm
Tyco Electronics Corp. (Harrisburg, PA), the parent of AMP, recently announced it acquired Fisk Corp., an electrical and technology-infrastructure installation company
Tyco Electronics Corp. (Harrisburg, PA), the parent of AMP, recently announced it acquired Fisk Corp., an electrical and technology-infrastructure installation company. Fisk is headquartered in Houston, TX with offices in Dallas, TX; Las Vegas, NV; Miami, FL; New Orleans, LA; and San Antonio, TX.
If anything can be read into the tone of Tyco's announcement of the acquisition, this deal may not be Tyco's last. The company characterized the acquisition as "part of an ongoing strategy to become the dominant single-source, full-service system integrator of electrical, data, audio/video, sound, lighting, and HVAC [heating, ventilation, and air-conditioning] control systems."
Financial terms of the transaction were not immediately available.
The vice president of Tyco Electronics' Wire and Cable Group, James J. McNamara, says the acquisition "marks a major milestone in our strategy to balance revenue generation between product sales and expanded system-integration service." He says that by acquiring Fisk, Tyco is now "extremely well-positioned as a single-source solution provider." Fisk will manage the use of AMP/Tyco's certified design and installation contractors.
Fisk was founded in 1913 as a provider of electrical construction and maintenance services. Today, the firm also provides data communications cabling and systems-integration services. Reportedly, Fisk's annual revenues are close to $260 million. The company bills itself as "one of the largest specialty contractors in the nation." The outfit sells itself on the ability to provide services for most building systems, including electrical, data communication networks, voice networks, security, audio, and video. In 1999, Engineering News Record magazine ranked Fisk 27th on its list of the largest specialty construction contractors in the country. Fisk was categorized as an electrical contractor in that article.
Prior to its acquisition by Tyco, Fisk had earned certified-system-installer status from several other cabling-industry players, including The Siemon Company (Watertown, CT), Panduit (Tinley Park, IL), and Corning Cable Systems (Hickory, NC). Fisk has also been a value-added reseller of systems from Lucent Technologies (Murray Hill, NJ), Leviton Voice & Data Division (Bothell, WA), and Molex Premise Networks (Hudson, NH).