MasTec acquiring electrical contractor for $1.7B

Infrastructure giant MasTec is expanding its electrical services with the $1.7 billion acquisition of Ohio-based The Superior Group. The Coral Gables-based company will pay $1.2 billion in cash and $475 million in stock for Electrical Specialists, which does business as The Superior Group, the South Florida Business Journal reported. The deal includes a possible earnout payment based on The Superior Group’s financial performance for the three years following the deal’s closing, which is expected by the end of this month.  MasTec, led by Jose Mas, said the acquisition will allow the company to provide a broader range of services because […]

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