M&A Deal Summary

MasTec Acquires Intren

On May 5, 2021, MasTec acquired construction company Intren from One Equity Partners for 420M USD

Acquisition Highlights
  • This is MasTec’s 22nd transaction in the Construction sector.
  • This is MasTec’s 3rd largest (disclosed) transaction.
  • This is MasTec’s 22nd transaction in the United States.
  • This is MasTec’s 1st transaction in Illinois.

M&A Deal Summary

Date 2021-05-05
Target Intren
Sector Construction
Buyer(s) MasTec
Sellers(s) One Equity Partners
Deal Type Add-on Acquisition
Deal Value 420M USD

Target

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.

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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 28 of 30
Sector (Construction) 22 of 23
Type (Add-on Acquisition) 22 of 24
State (Illinois) 1 of 2
Country (United States) 22 of 24
Year (2021) 2 of 3
Size (of disclosed) 3 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-04 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 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.

Buy $600M

Seller(S) 1

SELLER

One Equity Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

One Equity Partners (OEP) is a private equity firm that targets buyout and growth capital investments in North America, Europe, and Asia. OEP prefers to be the lead investor and typically commits $30 to $300 million per transaction. Sectors of interest include industrial products/services, consumer, retail, chemicals, media, communications, and healthcare. One Equity Partners was formed in 2001 and spun out of JP Morgan Chase in 2015. One Equity Partners is based in New York City.


DEAL STATS #
Overall 48 of 63
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 29 of 36
State (Illinois) 3 of 3
Country (United States) 33 of 42
Year (2021) 4 of 10
Size (of disclosed) 18 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 AMECO

Greenville, South Carolina, United States

AMECO is a full-service provider of construction equipment, scaffolding, small tools management and total site solutions to capital construction project owners, contractors and ongoing plant operators in the chemical, power, energy, life sciences and advanced manufacturing sectors across the U.S. and Canada. AMECO was founded in 1947 and is based in Greenville, South Carolina.

Buy $73M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 BRUSH

Leicestershire, United Kingdom

BRUSH is an independent provider of equipment, services, and solutions for electrical power generation and distribution. BRUSH was founded in 1879 and is based in Leicestershire, United Kingdom.

Buy -