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Dycom Industries Inc to Acquire Telecommunications Infrastructure Services Subsidiaries From Quanta Services Inc

Monday, 19 Nov 2012 05:45pm EST 

Dycom Industries Inc announced that it has entered into a definitive agreement with Quanta Services Inc to acquire substantially all of Quanta's domestic telecommunications infrastructure services subsidiaries for approximately $275 million in cash. The acquired subsidiaries provide specialty contracting services, including engineering, construction, maintenance and installation services to telecommunications providers, and other construction and maintenance services to electric and gas utilities and others. Principal business facilities are located in Arizona, California, Florida, Georgia, Minnesota, New York, Pennsylvania, and Washington. The acquisition is expected to be completed by December 31, 2012. The purchase price of approximately $275 million, which is subject to adjustments for working capital and other specified items, will be financed with a new $400 million senior secured credit facility arranged and syndicated by Bank of America Merrill Lynch and Wells Fargo Securities, LLC. 

Company Quote

0.59 +1.62%
1:17pm EDT