mastec acquisitions 2021

Dialysis service provider with history of fueling consolidation must seek FTC approval prior to any new deals; Agency policy statement confirms return of prior approval as standard practice, Competition and Consumer Protection Guidance Documents. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc. The FTC investigated this case in collaboration with the Utah Attorney Generals Office. Menlo Park, California, Senior Electrical Estimator You can see the complete list of todays Zacks #1 Rank (Strong Buy) stocks here. WebJul 2021 - Aug 2022 1 year 2 months. Great River Energy September 02, 2021, STRL Quick QuoteSTRL TPC Quick QuoteTPC MTZ Quick QuoteMTZ GVA Quick QuoteGVA. JPMorgan CEO Jamie Dimon warned about the threat from fintechs 2 years ago. Gillette or Sundance, Wyoming, PUC Sr. Market Analyst (Program Spec VII) (00028762) This order requires the use of a broad prior approval provision for a variety of reasons, including DaVitas history of fueling market consolidation for these life-saving services. The FTC will publish the consent agreement package in the Federal Register shortly. The transaction supports MasTec's long-term strategy to expand in the fast-growing electric utility services market with incremental recurring master service agreement revenue. A variety of factors, many of which are beyond our control, could cause actual future results to differ materially from those projected in the forward-looking statements. Our choice of MasTec was based on the strong cultural fit for both our loyal employees and long-term customers. These returns cover a period from January 1, 1988 through April 3, 2023. Now, with strong visibility into the clean energy market, MasTec remains well poised for growth, given persistent focus on the clean energy market including wind, solar, biofuels, hydrogen and storage. In 2020, MasTec recorded $6.3 billion in revenue, and we currently expect to more than double that level and approximate $13 billion in revenue in 2023. Bothactual fiscal 2021and expected post-acquisition 2022 results reflect impacts of underperforming communications and pipeline services operations, which are anticipated to improve over time. The analysis to aid public comment provides additional details about the consent order. Start a discussion below. As one of the largest clean energy contractors in the country, MasTecs expertise in constructing wind farms, solar farms, biomass facilities, high-voltage transmission lines, substations, battery storage and hydrogen-enabled solutions uniquely position the company to take advantage of the growth in this market. Learn more about your rights as a consumer and how to spot and avoid scams. CORAL GABLES, Fla., Dec. 20, 2021 /PRNewswire/ --MasTec, Inc. (NYSE: MTZ) today announced that it has entered into a definitive agreement to acquire Henkels & McCoy Group Inc. (Henkels), one of the largest U.S. private electrical power transmission and distribution utility services firm and the 14th largest U.S. specialty contractor according to the recent 2021Engineering News-Record ranking. You can learn more abouthow competition benefits consumersorfile an antitrust complaint. We believe that the addition of Henkels, coupled withMasTecsexisting operations, creates a market leading utility contractor with significant expertise, scale and capacity that can provide a complete and compelling suite of service offerings to our customers as they work to transition to renewable energy generation, modernize power grid systems and reduce carbon emissions.. Energy Contract Originator The acquisition will be funded from MasTec' s cash on hand and its existing senior secured credit facility and is subject to customary purchase price adjustments. Spot the latest COVID scams, get compliance guidance, and stay up to date on FTC actions during the pandemic. Non-GAAP measures should not be considered in isolation from, as a substitute for, or alternative measure of, GAAP net income and should be reviewed in conjunction with theprovidedreconciliation thereto. First announced on Dec. 20, the total transaction consideration will be$600 million, with approximately$420 millionin cash (including the repayment of Henkels debt) plus approximately 2 million shares of MasTec common stock, subject to customary purchase price adjustments. Unlock MasTec Inc profile and new opportunities for your business. Culture in a services operation is critical, and both Henkels and MasTec have proud traditions as family businesses, with a strong focus on safety and customer service. Delayed quotes by FIS. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations. Mastec (MTZ) Group 3,4,5 Annual Filings Current Reports Mergers & Acquisitions Other Proxy Filings Quarterly Filings Registration Statements Filing year We use cookies to understand how you use our site and to improve your experience. All rights reserved. Segment revenue doubled over 2021, and we expect it to increase by 85% in 2022. MasTec has five operating segments: Communications, Oil and Gas, Power Delivery, Clean Energy and Infrastructure, and Others. NYSE and AMEX data is at least 20 minutes delayed. Our choice of MasTec was based on the strong cultural fit for both our loyal employees and long-term customers. This critical tool will help the Commission quickly identify and ultimately prevent future facially anticompetitive deals by DaVita, a particularly acquisitive company. Some 80 deals later, heres how their acquisition strategy is unfolding. Santa Clara, California, Our mission at EnergyCentral is to help global power industry professionals work better. One Tech Engineering Our mission is protecting consumers and competition by preventing anticompetitive, deceptive, and unfair business practices through law enforcement, advocacy, and education without unduly burdening legitimate business activity. Privacy Policy | No cost, no obligation to buy anything ever. (SPACs), Transportation, Infrastructure & Logistics. The webcast replay will be available for at least 30 days. Full year 2022 adjusted EBITDA, also a non-GAAP measure, was $780.6 million, compared to $939.1 million in 2021. MasTec, Inc. (MTZ Quick QuoteMTZ - Free Report) is making the most of the countrys diligent focus on carbon neutrality. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Specific factors that might cause such a difference include, but are not limited to: risks related to completed or potential acquisitions, including the acquisition of Henkels & McCoy Group, Inc., as well as the ability to identify suitable acquisition or strategic investment opportunities, to integrate acquired businesses within expected timeframes and to achieve the revenue, cost savings and earnings levels from such acquisitions at or above the levels projected, including the risk of potential asset impairment charges and write-downs of goodwill; risks related to adverse effects of health epidemics and pandemics or other outbreaks of communicable diseases, such as the COVID-19 pandemic, including its effect on supply chain or inflationary issues, as well as, the potential effects of the recently proposed vaccine mandates; market conditions, technological developments, regulatory or policy changes, including permitting processes and tax incentives that affect us or our customers' industries; the effect of federal, local, state, foreign or tax legislation and other regulations affecting the industries we serve and related projects and expenditures; the effect on demand for our services of changes in the amount of capital expenditures by our customers due to, among other things, economic conditions, including potential adverse effects of public health issues, such as the COVID-19 pandemic on economic activity generally, the availability and cost of financing, and customer consolidation in the industries we serve; activity in the industries we serve and the impact on our customers' expenditure levels caused by fluctuations in commodity prices, including for oil, natural gas, electricity and other energy sources; our ability to manage projects effectively and in accordance with our estimates, as well as our ability to accurately estimate the costs associated with our fixed price and other contracts, including any material changes in estimates for completion of projects and estimates of the recoverability of change orders; the timing and extent of fluctuations in operational, geographic and weather factors affecting our customers, projects and the industries in which we operate; the highly competitive nature of our industry and the ability of our customers, including our largest customers, to terminate or reduce the amount of work, or in some cases, the prices paid for services, on short or no notice under our contracts, and/or customer disputes related to our performance of services and the resolution of unapproved change orders; our dependence on a limited number of customers and our ability to replace non-recurring projects with new projects; the effect of state and federal regulatory initiatives, including costs of compliance with existing and potential future safety and environmental requirements, including with respect to climate change; risks associated with potential environmental issues and other hazards from our operations; disputes with, or failures of, our subcontractors to deliver agreed-upon supplies or services in a timely fashion, and the risk of being required to pay our subcontractors even if our customers do not pay us; risks related to our strategic arrangements, including our equity investments; any exposure resulting from system or information technology interruptions or data security breaches; any material changes in estimates for legal costs or case settlements or adverse determinations on any claim, lawsuit or proceeding; the adequacy of our insurance, legal and other reserves; the outcome of our plans for future operations, growth and services, including business development efforts, backlog, acquisitions and dispositions; our ability to maintain a workforce based upon current and anticipated workloads; our ability to attract and retain qualified personnel, key management and skilled employees, including from acquired businesses, and our ability to enforce any noncompetition agreements; fluctuations in fuel, maintenance, materials, labor and other costs; risks associated with volatility of our stock price or any dilution or stock price volatility that shareholders may experience in connection with shares we may issue as consideration for earn-out obligations or as purchase consideration in connection with past or future acquisitions, or as a result of other stock issuances; restrictions imposed by our credit facility, senior notes and any future loans or securities; our ability to obtain performance and surety bonds; risks related to our operations that employ a unionized workforce, including labor availability, productivity and relations, as well as risks associated with multiemployer union pension plans, including underfunding and withdrawal liabilities; risks associated with operating in or expanding into additional international markets, including risks from fluctuations in foreign currencies, foreign labor and general business conditions and risks from failure to comply with laws applicable to our foreign activities and/or governmental policy uncertainty; a small number of our existing shareholders have the ability to influence major corporate decisions; as well as other risks detailed in our filings with the Securities and Exchange Commission.
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