MasTec closes previously announced $1.65 billion acquisition of Superior Group

The cash portion was funded with cash on hand, borrowings under MasTec’s existing credit facility, and two delayed draw term loan facilities arranged for the deal.

MasTec expects the addition of Superior to expand its capacity for data center, power, and other mission-critical infrastructure work.

MasTec closed its previously announced acquisition of Electrical Specialists, doing business as The Superior Group, in a cash-and-stock deal valued at about $1.65 billion.

Consideration includes customary purchase price adjustments and a potential cash earnout tied to Superior’s post-closing performance.