MasTec acquired Fabcor (Fabcor TargetCo Ltd.) for approximately $22.8 million cash plus ~$7.0 million of assumed debt and a five-year earn-out, per the FY2011 10-K, a transaction completed in April 2011, structured as cash plus earn-out.
Fabcor (Fabcor TargetCo Ltd.) operates in Oil and Gas, is based in Canada (British Columbia and western Canada). 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.
Expanded MasTec's energy-infrastructure footprint into the Canadian pipeline market ahead of anticipated buildout.
Oil and Gas segment
Advisory firms were not disclosed for this transaction.