MasTec: Building A More Profitable Company
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.
MasTec, Inc. is an infrastructure construction company. The company is engaged in designing, building, installing and maintaining infrastructures which include the engineering, building, installation, maintenance and upgrade of energy, communication and utility infrastructure. It operates... More
Sector: Industrial Goods
Industry: Heavy Construction
Country: United States
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