Construction M&A » By The Online Investor Staff, updated Mon., Jul. 4, 10:47 AM
Recent mergers and acquisitions in the Construction M&A category.
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Slide #93. Dycom Industries, Inc. — Telecommunications Infrastructure Services Subsidiaries From Quanta Services
Acquirer:
Dycom Industries, Inc. (DY)
Acquiree:
Telecommunications Infrastructure Services Subsidiaries From Quanta Services (PWR)
Details:
Dycom Industries, Inc. (NYSE: DY) announced today that it has completed its acquisition of the telecommunications infrastructure services subsidiaries of Quanta Services, Inc. (NYSE: PWR) for $275 million in cash plus an adjustment estimated to be $25 million to $40 million for working capital and other specified items. Dycom funded the acquisition through a combination of borrowings under a new $400 million credit facility and cash on hand. Subsequent to the closing of the acquisition, Dycom expects to repay approximately $90.0 million of the credit facility borrowings from the proceeds of its recent offering of $90.0 million of 7.125% Senior Subordinated Notes due 2021 (the "Notes"). These Notes were offered pursuant to a private placement to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933, as amended. The Notes will be issued at a price of 104.25% of the principal amount and are expected to close on December 12, 2012.
Dycom Industries is a provider of contracting services. Co. supplies telecommunications providers with a portfolio of services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Co. provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. Co. supplies the labor, tools, and equipment necessary to provide these services to its customers.
DY SEC Filing Email Alerts Service
Open the DY Page at The Online Investor »
Dycom Industries is a provider of contracting services. Co. supplies telecommunications providers with a portfolio of services, including program management; planning; engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Co. provides underground facility locating services for various utilities, including telecommunications providers, and other construction and maintenance services for electric and gas utilities. Co. supplies the labor, tools, and equipment necessary to provide these services to its customers.
DY SEC Filing Email Alerts Service
Open the PWR Page at The Online Investor »
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