Sep. 9, 2014, 8:11 AM
- Investors might find power-line builder MYR Group (NASDAQ:MYRG) a way to capitalize on the $3.6T need to upgrade U.S. infrastructure as well as an intriguing takeover possibility, Bloomberg speculates.
- MYR is on the short list of companies capable of building the largest transmission systems in the U.S., making it a prime acquisition candidate deserving of a 40% premium, according to FBR Capital.
- A strong balance sheet and the cheapest valuation among peers make it attractive for a leveraged buyout, Avondale Partners says, citing MasTec (NYSE:MTZ), Quanta Services (NYSE:PWR) and Primoris (NASDAQ:PRIM) as firms that could be drawn to MYR for its specialized equipment and trained labor force.
Jun. 30, 2014, 2:58 PM
- MasTec (MTZ +3.6%) says it acquired Pacer Construction Holdings and its affiliated operating companies for ~$126M in cash plus a five-year contingent earn-out.
- Pacer is a contractor in western Canada which focuses on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries.
- MTZ also says it amended its senior secured credit facility, increasing aggregate borrowing commitments to $1B from $750M.