MasTec Announces $1.65 B Acquisition of The Superior Group
MasTec Inc (NYSE:MTZ) shares rose 3.1% in after‑hours trading on Tuesday after the company disclosed a definitive agreement to acquire The Superior Group for an aggregate consideration of approximately $1.65 billion. The purchase price consists of roughly $475 million of MasTec common stock and about $1.175 billion in cash, subject to customary adjustments, with an additional earn‑out payment contingent on Superior’s cumulative financial performance over the 36 months following closing.
Superior Group, a full‑service electrical contractor headquartered in Columbus, Ohio, employs approximately 3,000 people and provides services to customers in the data‑center, healthcare, entertainment and industrial sectors. The acquisition will expand MasTec’s infrastructure capacity platform for data‑centers and mission‑critical facilities and will be integrated as a new operating group within MasTec’s Power Delivery segment, with financial results reflected accordingly.
Management continuity is planned; Superior’s existing leadership team, including Chairman and CEO Bryan Stewart, will remain in place. Financial projections supplied by Superior indicate full‑year 2026 revenue of $1.6 billion to $1.7 billion and Adjusted EBITDA of $225 million to $250 million. For the remainder of 2026, Superior is expected to contribute $800 million to $900 million of revenue and $100 million to $115 million of Adjusted EBITDA. For full‑year 2027, projected revenue ranges from $2.2 billion to $2.5 billion with Adjusted EBITDA of $250 million to $275 million.
MasTec intends to fund the cash portion of the transaction using a combination of cash on hand, draws under its existing credit facility, and draws under two term loan facilities. The transaction remains subject to customary closing conditions, including antitrust regulatory approval, and is anticipated to close in mid‑to‑late July 2026.