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, Regina and Saskatchewan.
MasTec acquired all of the issued and outstanding equity interests of Pacer for approximately $126 million in cash plus a 5-year contingent earn-out. At closing, Pacer had approximately $54 million in tangible net worth, including $87 million of debt.
With approximately 1,600 employees and more than 2,000 pieces of owned construction equipment, Pacer is one of the largest infrastructure contractors in the Canadian oil sands.
“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, such as: electrical utility transmission and distribution; natural gas and petroleum pipeline infrastructure; wireless, wireline and satellite communications; power generation, including renewable energy infrastructure; and industrial infrastructure.
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