Holland & Knight Advises MasTec on $600 Million Acquisition of Henkels & McCoy
MIAMI (January 3, 2021) – Holland & Knight advised MasTec, Inc. (NYSE: MTZ) on its $600 million acquisition of Henkels & McCoy, one of the largest U.S. private electrical power transmission and distribution utility services firms and the 14th largest U.S. specialty contractor according to the recent 2021 Engineering News-Record ranking. The deal closed on Dec. 30, 2021.
Founded in 1923, Henkels has been in operation for over 98 years, with approximately $1.5 billion in fiscal 2021 revenue primarily with long-tenured relationships across a diverse blue chip customer base, with expansive geographic operations across the United States. The Pennsylvania-based company has approximately 5,100 employees.
Miami-based MasTec is a leading infrastructure construction company operating mainly throughout North America across a range of industries. The company's primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy, utility and other infrastructure, such as: wireless, wireline/fiber and customer fulfillment activities; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation; heavy civil; and industrial infrastructure.
Holland & Knight Partners David Barkus, Ira Rosner and Kyle Hershey led the firm's representation of MasTec. They were assisted by Partners Chris Marotta, Amy Edwards, Ilana Strickon and Christine Gay and Associates Alex Dobles, John Haney and Chris Gregores.
More information about the transaction can be found here.