MasTec Acquires Infrastructure and Energy Alternatives (IEA)
July 25, 2022
MasTec has agreed to acquire Infrastructure and Energy Alternatives, Inc. (IEA) in a cash-and-stock transaction valued at approximately $1.1 billion, with IEA shareholders receiving $14.00 per share. The deal expands MasTec's clean energy and infrastructure capabilities—adding nearly 6,000 IEA employees, union-based clean energy power generation services, and broadened renewable project and heavy-civil expertise—and is expected to close in late Q4 2022 subject to customary approvals.
- Buyers
- MasTec, Inc.
- Targets
- Infrastructure and Energy Alternatives, Inc. (IEA)
- Sellers
- IEA stockholders
- Industry
- Energy
- Location
- Indiana, United States
- Transaction Type
- Buyout
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