LATEST NEWS Engineering
July 7, 2014
Major oilsands infrastructure contractor acquired
Pacer Construction Holdings Corporation and its affiliated operating companies were acquired by MasTec.
Pacer is an oil and gas infrastructure company headquartered in Calgary with a presence in Fort McMurray, Fort McKay, Edmonton, Alberta, and Regina, Saskatchewan.
MasTec acquired all of the issued and outstanding equity interests of Pacer for about $126 million in cash plus a five-year contingent earn-out.
At closing, Pacer had about $54 million in tangible net worth, including $87 million of debt.
With about 1,600 employees and more than 2,000 pieces of owned construction equipment, Pacer is one of the largest infrastructure contractors in the Canadian oilsands.
“With its strong and proven management team and a track record of success in Canada’s dynamic energy and mining sectors, we expect Pacer to be an important part of MasTec’s plan to lead the development of energy infrastructure in Canada,” said Jose Mas, MasTec’s CEO.
MasTec Inc. is an 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 energy, utility and communications infrastructure.
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