Construction M&A » By The Online Investor Staff, updated Tue., Dec. 6, 9:52 AM
Recent mergers and acquisitions in the Construction M&A category.
| This Slide: #99 of 100 |
Slide #99. Primoris Services Corporation — The Saxon Group, Inc.
Acquirer:
Primoris Services Corporation (NASDAQ:PRIM)
Acquiree:
The Saxon Group, Inc.
Details:
Primoris Services Corporation announced that its Primoris Energy Services subsidiary has acquired the assets of The Saxon Group, Inc.. Based in Suwanne, Georgia, just outside of Atlanta, Saxon is a full service industrial construction enterprise with special expertise in the industrial gas processing and power plant sectors. For 2011, Saxon revenues were approximately $38 million from such projects as a new power plant and new natural gas compression facilities. Total consideration was approximately $3.2 million, including a $2.5 million incentive provision based on Saxon achieving $4 million of EBITDA (as that term is defined in the asset purchase agreement) during the seven quarters that end June 30, 2014.
Primoris Services is a provider of contracting services operating mainly in the U.S. and Canada. Co.'s segments include: Utilities, which engages in the installation and maintenance of new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems; Energy/Renewables, which engages in engineering, procurement, and construction, retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services; and Pipeline Services, which engages in pipeline construction and maintenance and pipeline facility and integrity services.
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Avg. Broker Rec.
 
|
Hold (2.37 out of 4) 0th percentile
(ranked lower than approx. 100% of all stocks covered)
Analysts' Target Price: PRIM Stock Forecast Based on Zacks ABR data; powered by Xignite |
