Add-on Acquisition • Construction

MasTec Acquires Henkels & McCoy

On December 20, 2021, MasTec acquired construction company Henkels & McCoy for 600M USD

Acquisition Context
  • This is MasTec’s 23rd transaction in the Construction sector.
  • This is MasTec’s 2nd largest (disclosed) transaction.
  • This is MasTec’s 23rd transaction in the United States.
  • This is MasTec’s 1st transaction in Pennsylvania.

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M&A Deal Summary

Date December 20, 2021
Target Henkels & McCoy
Sector Construction
Buyer(s) MasTec
Deal Type Add-on Acquisition
Deal Value 600M USD
Advisor(s) Houlihan Lokey (Financial)
Sidley (Legal)

Target Company

Henkels & McCoy

Blue Bell, Pennsylvania, United States
Henkels & McCoy is a provider of project management, engineering, construction, installation, maintenance, and training services in the United States. Henkels & McCoy was founded in 1923 and is based in Blue Bell, Pennsylvania.
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Buyer Overview 1

Buyer

MasTec

Coral Gables, Florida, United States

Category Company
Founded 1929
Sector Construction
Employees32,000
Revenue 12.3B USD (2024)
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 Context for Buyer #
Overall 29 of 30
Sector: Construction 23 of 23
Type: Add-on Acquisition 23 of 24
State: Pennsylvania 1 of 1
Country: United States 23 of 24
Year: 2021 3 of 3
Size (of disclosed) 2 of 16
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-25 IEA

Westchester, Illinois, United States

IEA was formed to build an integrated portfolio of energy and infrastructure construction companies. Since its formation, the company has demonstrated its ability to grow organically and execute numerous successful strategic acquisitions. IEA was formed in 2011 and is based in Westchester, Illinois.

Buy $1.1B