Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.
Three patterns run through MasTec's acquisitions — what it looks for, how it pays, and how it folds in what it buys.
18 acquisitions — each with the deal value, financing structure, target revenue, and executive commentary where disclosed.
Publicly traded renewable-energy and infrastructure services provider (Nasdaq: IEA) that MasTec agreed to buy for $14.00 per share, split $10.50 in cash and 0.0483 of a MasTec share (about $3.50) — a roughly 34% premium. IEA had completed more than 260 utility-scale wind and solar projects across North America and also handled heavy-civil, rail and environmental-remediation work. MasTec issued about 2.7 million shares and assumed IEA's $300M of 6.625% senior notes. approximately $1.1 billion total transaction consideration (including IEA net debt); $748.5M consideration transferred plus ~$300M of assumed 6.625% senior notes per the FY2022 10-K.
We are proud to expand our service capabilities, scale and expertise providing critical infrastructure to support the nation's energy transition to secure and sustainable renewable sources. We are excited to welcome JP, the IEA management team and almost 6,000 IEA team members to the MasTec family.Jose Mas — Chief Executive Officer, MasTec
The combination with MasTec will create new opportunities for IEA's employees and our customer base. Our joint resources and capabilities will advance our ability to serve our customers in the renewable energy, power delivery and infrastructure markets.JP Roehm — President and Chief Executive Officer, IEA
Full-service electrical contractor focused on critical infrastructure, and a recognized leader in building data-center electrical systems, also serving healthcare, entertainment and industrial end markets. MasTec agreed on July 7, 2026 to buy the company from seller Stewshi Co., Inc. under a share purchase agreement, issuing about 1,195,721 shares (roughly $475M) as partial consideration; Superior Group becomes a wholly owned subsidiary. approximately $475 million in MasTec stock as partial consideration (~1,195,721 shares, per the July 2026 8-K); total purchase price also includes cash and is not fully disclosed.
Long-established utility services firm providing critical infrastructure design, construction and maintenance to power and renewables, telecommunications, gas distribution and pipeline end-markets. MasTec agreed on December 20, 2021 to acquire HMG via an Agreement and Plan of Merger, funding it with cash plus roughly 2.0 million newly issued MasTec shares (about $180M). HMG became a wholly owned subsidiary. approximately $598.6 million total consideration (about $416.9M cash and ~2.0M MasTec shares valued near $181.7M), per the FY2021 10-K.
Specialty utility contractor providing electrical distribution network services under multi-year master service agreements to large utilities, municipalities and cooperatives. MasTec acquired all of INTREN's equity interests effective May 2021; the deal was reported in aggregate within the year's Power Delivery acquisitions rather than with a standalone purchase price.
North American oil-and-gas pipeline and facility construction company headquartered in Calgary, Alberta, with offices across western Canada, Wyoming and North Dakota. Services span gathering systems and pipeline construction, pipeline modification and replacement, and compressor and pumping-station work. MasTec acquired all equity interests effective May 1, 2013. approximately $126.3 million total consideration ($103.5M cash plus $22.8M earn-out), per the FY2013 10-K.
Natural-gas and petroleum pipeline infrastructure services company operating primarily in eastern Texas, providing pipeline and facilities construction, painting and maintenance. MasTec acquired all outstanding interests effective December 1, 2012. approximately $78.7 million ($67.6M cash plus an $11.1M five-year earn-out), per the FY2013 10-K.
Full-service engineering, procurement and construction firm specializing in extra-high-voltage (EHV) electrical transmission systems across North America. MasTec first invested $10M for a 33% interest in November 2010 with a two-year merger option, then exercised the option and acquired the remaining 67% effective May 2, 2011, paying mainly with about 5.1 million MasTec shares plus a five-year EBITDA earn-out. approximately $167.7 million total (consideration of ~$128.1M — largely 5,129,642 MasTec shares — plus the $39.6M fair value of MasTec's prior 33% stake), per the FY2011 10-K.
Canadian natural-gas and petroleum pipeline infrastructure construction group (Fabcor TargetCo Ltd. and subsidiaries Fabcor 2001 and Fabcor Pipelines B.C.). MasTec acquired all outstanding shares effective April 1, 2011 to expand its energy-infrastructure services in the Canadian market. approximately $22.8 million cash plus ~$7.0 million of assumed debt and a five-year earn-out, per the FY2011 10-K.
Maryland-based provider of telephone, cabling, engineering, construction, equipment integration, testing, wiring and computer-network services to telecommunications carriers. MasTec purchased 100% of the stock effective April 1, 2011. approximately $4.4 million cash plus assumed capital leases and a five-year earn-out, per the FY2011 10-K.
California-headquartered wireless infrastructure services company. MasTec acquired all outstanding shares effective June 1, 2011 to add self-perform wireless build capacity. approximately $5.1 million cash plus ~$2.2 million assumed debt and a five-year earn-out, per the FY2011 10-K.
Install-to-the-home contractor operating primarily in parts of New York, Pennsylvania and New England, whose primary customer was DIRECTV. MasTec acquired all outstanding capital stock effective June 30, 2011. approximately $4.0 million cash plus ~$7.9 million of assumed debt, per the FY2011 10-K.
Large-diameter natural-gas, crude-oil and refined-products transmission pipeline construction and infrastructure services provider with a largely unionized workforce. MasTec completed the purchase of all membership interests on November 23, 2009, funding it alongside a concurrent $100M issuance of 4.25% senior convertible notes. approximately $132 million in cash plus ~$34 million of assumed debt and a five-year earn-out.
We are very pleased with the acquisition of Precision. Precision's strong management team and dedicated workforce will provide MasTec with additional capacity and exposure to the natural gas and petroleum pipeline markets.Jose Mas — President and CEO, MasTec
North Dakota construction company focused on wind-farm, heavy-civil and industrial and infrastructure work, with operations spanning natural-gas processing plants, compressor stations, electrical power-generating plants, industrial facilities, roads and bridges. MasTec completed the acquisition on December 16, 2008 under a stock purchase agreement dated October 4, 2008, paying with cash, 7.5 million shares, a $55M convertible note and assumed debt plus an earn-out. $50 million cash, 7.5 million MasTec shares, a $55 million 8% seller convertible note, ~$15 million of assumed debt and a two-year EBITDA earn-out.
Wanzek is an exceptional company and we are excited to close the transaction and begin joint operations with its highly-skilled management team and workforce. Its diversified and high-quality customer base is a great addition to the MasTec portfolio.Jose Mas — President and CEO, MasTec
Atlanta-based wireless infrastructure management and construction firm (wireless network design, construction, upgrade and maintenance). MasTec purchased certain assets of Nsoro on July 31, 2008. $17.5 million cash plus ~$12 million of assumed indebtedness and an eight-year earn-out (asset purchase).
Texas-based midstream oil-and-gas pipeline construction company. MasTec (via subsidiary MasTec North America) bought all outstanding shares from seller Alan B. Roberts under a stock purchase agreement dated May 1, 2008, closing May 30, 2008. $44 million cash plus a five-year earn-out (50% of Pumpco earnings above a threshold).
Electrical transmission-and-distribution utility construction firm active in several northern states in construction, maintenance, substation and storm-restoration work, with a largely unionized workforce. MasTec acquired all outstanding shares in October 2007. $8.0 million cash plus an earn-out.
Electrical utility contractor specializing in wind-farm electrical system design and construction. MasTec acquired certain assets in December 2007. $5.5 million cash plus ~$2.8 million of assumed liabilities and an earn-out (asset purchase).
Water and sewer pipeline construction and maintenance business. During 2007 MasTec acquired an additional 45% interest in GlobeTec (moving toward full ownership by 2008). GlobeTec was later classified as a discontinued operation and sold in 2013. $6.5 million cash plus an earn-out (for the incremental 45% interest acquired during 2007).