Overview
- MasTec announced Tuesday that it agreed to acquire electrical contractor Superior Group in a $1.65 billion cash-and-stock deal that creates a new arm for its data center work.
- The deal is structured with cash and MasTec shares and includes a potential performance-based earnout tied to Superior’s results.
- MasTec provided near-term financial guidance saying Superior should contribute about $800 million to $900 million in revenue and $0.50 to $0.65 in adjusted EPS for the remainder of 2026.
- For a full year, MasTec forecast Superior would generate roughly $1.6 billion to $1.7 billion in revenue and $225 million to $250 million in adjusted EBITDA, and the companies expect the transaction to close by mid- to late-July.
- Market response was mixed, with some reports showing a roughly 6% intraday drop in MasTec stock while other trading noted a modest rise in extended hours, and analysts highlighted the deal’s fit with rising AI-driven data center investment.