Jul. 7 at 11:10 PM
MasTec announced a definitive agreement to acquire electrical contractor The Superior Group for approximately
$1.65 billion, expanding its data center and mission-critical infrastructure capabilities. The deal includes about
$475 million in MasTec stock and roughly
$1.175 billion in cash, with the potential for an additional earnout tied to Superior's financial performance over the three years following closing.
Based in Columbus, Ohio, Superior employs about 3,000 people and serves customers across data centers, healthcare, entertainment and industrial markets. MasTec expects Superior to generate
$1.6 billion to
$1.7 billion in revenue and
$225 million to
$250 million in adjusted EBITDA in 2026. For the remainder of 2026, the acquisition is projected to contribute
$800 million to
$900 million in revenue and
$100 million to
$115 million in adjusted EBITDA.
$MTZ