MasTec acquired GlobeTec Construction, LLC (additional 45% interest) for $6.5 million cash plus an earn-out (for the incremental 45% interest acquired during 2007), a transaction completed in January 2007, structured as cash plus earn-out.
GlobeTec Construction, LLC (additional 45% interest) operates in Water and sewer, is based in United States. 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.
Consolidated ownership of an existing water/sewer construction affiliate.
Water and sewer operations (later discontinued)
Advisory firms were not disclosed for this transaction.