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June 30, 2014
08:31 EDTMTZMasTec expands acquires Paper Construction
MasTec announced that it has acquired Pacer Construction Holdings Corporation and its affiliated operating companies. Pacer is a contractor in Western Canada, focusing on infrastructure construction supporting the oil and gas production/processing, mining and transportation industries. Pacer is headquartered in Calgary, Alberta, Canada and also has a strong presence in, among other locations, Fort McMurray, Fort McKay and Edmonton, Alberta and Regina, Saskatchewan. MasTec acquired all of the issued and outstanding equity interests of Pacer for approximately $126M in cash plus a 5-year contingent earn-out. At closing, Pacer had approximately $54M in tangible net worth. MasTec also amended its senior secured credit facility, increasing the aggregate borrowing commitments from $750 million to $1 billion, adding the capability to borrow in Mexican Pesos and increasing the amount that can be borrowed in these alternative currencies from $100 million to $200 million.
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February 2, 2016
06:08 EDTMTZMasTec management to meet with Stephens
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