MasTec acquired Henkels & McCoy Group, Inc. (HMG) for approximately $598.6 million total consideration (about $416.9M cash and ~2.0M MasTec shares valued near $181.7M), per the FY2021 10-K, a transaction announced in December 2021, structured as cash-and-stock.
Henkels & McCoy Group, Inc. (HMG) operates in Power Delivery, is based in United States (Pennsylvania-based). 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.
Materially scaled MasTec's newly formed Power Delivery segment with a large union and non-union utility services platform.
Integrated in Q1 2022 across the Power Delivery, Communications and Oil and Gas segments, with HMG corporate functions in Corporate
Advisory firms were not disclosed for this transaction.