M&A Deal Summary

MasTec Acquires FNF Construction

On February 4, 2021, MasTec acquired construction company FNF Construction from J.H. Whitney Capital Partners

Acquisition Highlights
  • This is MasTec’s 21st transaction in the Construction sector.
  • This is MasTec’s 21st transaction in the United States.
  • This is MasTec’s 1st transaction in Arizona.

M&A Deal Summary
Date 2021-02-04
Target FNF Construction
Sector Construction
Buyer(s) MasTec
Sellers(s) J.H. Whitney Capital Partners
Deal Type Add-on Acquisition

Target

FNF Construction

Tempe, Arizona, United States
FNF Construction Company is an infrastructure-construction company, specializing in asphalt/rubberized-asphalt paving and to a lesser degree, structural concrete building, highway/airport runway painting, and drainage/storm-water system construction. The Company generally serves as the prime contractor for public sector customers such as federal, state and local governmental authorities in the states of Arizona, Colorado, Nevada, Utah, New Mexico and to a lesser degree in Southern California. FNF Construction was founded in 1984 and is based in Tempe, Arizona.

Search 200,500 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

MasTec

Coral Gables, Florida, United States
Category Company
Founded 1929
Sector Construction
Employees32,000
Revenue 12.0B USD (2023)
DESCRIPTION
MasTec's corporate headquarters in Coral Gables, Florida.
MasTec's corporate headquarters in Coral Gables, Florida.

MasTec is an infrastructure construction company operating mainly throughout North America. MasTec's primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as: wireless, wireline/fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation; and industrial infrastructure. MasTec was formed in 1929 and is based in Coral Gables, Florida.

DEAL STATS #
Overall 27 of 30
Sector (Construction) 21 of 23
Type (Add-on Acquisition) 21 of 24
State (Arizona) 1 of 1
Country (United States) 21 of 24
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-20 WesTower Communications

Orlando, Florida, United States

WesTower Communications, Inc. is a telecommunications services firm, focusing on construction and maintenance of communications infrastructure related to wireless networks throughout the United States.

Buy $199M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-05 Intren

Union, Illinois, United States

Intren is a utility specialty contractor primarily providing electrical distribution network services under various multi-year master service agreements to the nation's largest utilities, municipalities, and cooperatives. Intren was founded in 1988 and is based in Union, Illinois.

Buy $420M

Seller(S) 1

SELLER

J.H. Whitney Capital Partners

New Canaan, Connecticut, United States
Category Private Equity Firm
Founded 1946
PE ASSETS 1.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

J.H. Whitney & Co. is a private equity firm focused on small and middle-market buyouts and recapitalizations of US-based, growth-oriented companies. The Firm targets companies with $50 to $500 million in revenue and looks to invest $20 to $125 million per transaction. Industries of interest include consumer, healthcare, specialty manufacturing, and business services. J.H. Whitney & Co. was formed in 1946 and is based in New Canaan, Connecticut.

DEAL STATS #
Overall 22 of 27
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Arizona) 1 of 1
Country (United States) 21 of 26
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-05 Cooley Group

Pawtucket, Rhode Island, United States

Cooley Group designs, engineers and manufactures polymer-based industrial textile solutions for a diverse set of OEM fabricators. Cooley Group was founded in 1926 and is based in Pawtucket, Rhode Island.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Stevens Manufacturing

Milford, Connecticut, United States

Stevens Manufacturing Co., Inc. is a manufacturing company, providing in the aerospace industry products & part number marking, CNC milling, CNC lathe & CNC machining, EDM wire cutting. Stevens Manufacturing was founded in 1951 and is based in Milford, Connecticut.

Sell -
Mergr

Product

Company

Legal