M&A Deal Summary

Primoris Services Acquires Future Infrastructure

On January 15, 2021, Primoris Services acquired infrastructure company Future Infrastructure from Tower Arch Capital for 620M USD

Acquisition Highlights
  • This is Primoris Services’ 1st transaction in the Infrastructure sector.
  • This is Primoris Services’ largest (disclosed) transaction.
  • This is Primoris Services’ 13th transaction in the United States.
  • This is Primoris Services’ 6th transaction in Texas.

M&A Deal Summary

Date 2021-01-15
Target Future Infrastructure
Sector Infrastructure
Buyer(s) Primoris Services
Sellers(s) Tower Arch Capital
Deal Type Add-on Acquisition
Deal Value 620M USD

Target

Future Infrastructure

Mesquite, Texas, United States
Future Infrastructure is a provider of non-discretionary maintenance, repair, upgrade, and installation services to the telecommunication, regulated gas utility, and infrastructure markets. Future Infrastructure was founded in 1999 and is based in Mesquite, Texas.

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Buyer(S) 1

Buyer

Primoris Services

Dallas, Texas, United States

Category Company
Founded 1960
Sector Construction
Employees14,058
Revenue 5.7B USD (2023)
DESCRIPTION

Primoris Services is a provider of a wide range of construction, fabrication, maintenance, replacement, water and wastewater, and engineering services to major public utilities, petrochemical companies, energy companies, municipalities, and other customers. Primoris Services was founded in 1960 and is based in Dallas, Texas.


DEAL STATS #
Overall 13 of 14
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 11 of 12
State (Texas) 6 of 7
Country (United States) 13 of 14
Year (2021) 1 of 1
Size (of disclosed) 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-28 Willbros Group

Houston, Texas, United States

Willbros Group, Inc. is a provider of energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. Its offerings include engineering, procurement and construction (either individually or as an integrated EPC service offering), maintenance, facilities development and operations services.

Buy $100M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-27 PLH Group

Irving, Texas, United States

PLH Group provides full service construction and specialty contractor that serves the electric power line, pipeline, oil field electrical and industrial markets. PLH Group is based in Irving, Texas.

Buy $470M

Seller(S) 1

SELLER

Tower Arch Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2013
PE ASSETS 700M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Tower Arch Capital is a lower middle-market private equity firm focused on partnering with and growing family and entrepreneur-owned companies. Tower Arch seeks US-based companies with $20 to $150 million in revenue and up to $30 million of EBITDA. Prospective transaction situations include buyouts, recapitalizations, and corporate divestitures. Tower Arch Capital was formed in 2013 and is based in Draper, Utah.


DEAL STATS #
Overall 5 of 6
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Texas) 2 of 2
Country (United States) 5 of 6
Year (2021) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-23 Pavion

Chantilly, Virginia, United States

Pavion connects and protects by providing fire, security, and communication integration solutions to customers in 48 U.S. locations and 22 countries. The company brings industry-leading experience to clients in the enterprise, healthcare, education, government, data center, and retail industries. Its mission is to bring clarity and transformation to safety, security, and communication through integral technology and radical service. Pavion was founded in 1969 and is based in Chantilly, Virginia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 LifePort

Woodland, Washington, United States

LifePort specializes in the manufacture of cabin components, mechanical devices, cabinetry and finished interior structures for helicopters and business jets. LifePort was founded in 1990 and is based in Woodland, Washington.

Buy -