Moving ahead on previously communicated计划对于石油和天然气部门建设的枢纽,专业合同巨头Mastec Inc.表示,5月5日,它已经完成了4.2亿美元的现金购买Intren LLC,这是一家领先的工会,伊利诺伊州的领先工会的专业承包商,专注于公用事业和其他领域的电气分销多年母服务协议。

Matthew Turk, INTREN'S newly elevated chief operating officer, told ENR that under the completed transaction, the firm becomes a wholly-owned unit of MasTec, although that was not noted in announcements by the buyer or seller. INTREN CEO Sherina M. Edwards retains her title, acquired in January, with the role of president added.

5月6日,一家股票合作伙伴宣布了一家股票合作伙伴,这是一家中层市场私募股权公司,自2017年以来一直在该公司持有股份,表示承包商将保留其品牌名称。其所有权比例没有披露。特克说,它“不到50%”,但没有提供更具体的数字。

Mastec在Enr的最新消息中排名第三新利18备用前600名Specialty Contractors list, reporting $7.2 billion in 2019 revenue; INTREN ranks at No. 49, reporting revenue of $535.7 million. The firm said current revenue is $550 million.

公开交易的Mastec是major installerof energy and utility pipelines, including the completed 1,172-mile Dakota Access Pipeline between North Dakota and Illinois andEnbridge Line 3 oil line,从艾伯塔省到威斯康星州仍在建设中的替代者。该公司还一直在建立电网建设,陆基海上风能和无线基础设施方面的工作。

首席执行官JoséMas表示,此次收购“将大大扩大我们在电力公司分销业务中的影响力”,他指出,电网现代化和硬化的预期增长以及更多的电动汽车使用。他说,此次收购“代表了Mastec运营在高增长市场的最前沿的重大扩展。”

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The combined organization represents the largest infrastructure company in the U.S that is founded and majority owned by minorities and women.

INTREN was founded in 1988 by current Chair Loretta Rosenmayer, and now has more than 2,000 employees and operations in 14 states. MasTec, founded in 1994 by Jorge Mas, the Cuban immigrant father of current CEO Jose Mas, has about 20,000 employees in North America and is the second largest Hispanic-owned American company.

Mas说:“作为该国最大的女性实用专业承包商,我一直对Intren的管理和企业家精神的质量印象深刻。”爱德华兹说:“ Intren和Mastec具有相同的质量,安全性,创新和包容性文化,并强调了我们的创始人所相信的价值观。”

Jamie Cook, lead construction sector research analyst at Credit Suisse, said the purchase "basically doubles" MasTec's current electric transmission business. In the past decade, INTREN has seen major revenue growth, "with over 90% of its business generated by master service agreements at double digit EBITDA margins," she said.

Growth Prospects

In first-quarter results released May 6, MasTec reported revenue of $1.7 billion as of March 31, up 25.3% from the same quarter last year, and 10% above Wall Street estimates, with oil and gas work still a strong driver. Adjusted margin of 11.5% was up from 8.3% last year.

Electrical transmission revenue rose 4.2%, but said Cook, "margins underwhelmed at 2.7%." Revenue from clean energy and infrastructure increased 22.4%, with margins at 3.1%. “A solid quarter but investors will want to see margin improvement from markets outside of oil and gas,” said Cook.

Mastec, which eyes becoming a $10-billion company, raised its fiscal 2021 revenue estimate to $8.2 billion, with the firm telling investors it expects sales from transmission work to make up $1.2 billion of the forecast $1.9-billion increase, "with sizable growth opportunities for 2022 and beyond." The firm projected $2.1 billion in second-quarter revenue.

Mastecstock price was up about 1.5% at trading close on May 6 to $109.35.