MasTec acquired EC Source Services, LLC for 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, a transaction completed in May 2011, structured as mostly stock plus earn-out.
EC Source Services, LLC operates in Power Delivery / electrical transmission, is based in North America. 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.
Gave MasTec a nationally recognized EHV transmission platform to capitalize on grid-buildout demand.
Electrical transmission operations
Advisory firms were not disclosed for this transaction.