MasTec Acquires McKee Utility Contractors from Boyne Capital

Boyne Capital Acquires McKee Utility Contractors

February 23, 2023

Infrastructure

Boyne Capital (through an affiliate) has partnered with McKee Utility Contractors' management and founding family in a platform investment to acquire McKee Utility Contractors, a water and sewer pipeline and utility infrastructure services provider. The investment will support McKee's growth across municipal water, wastewater, and stormwater projects in Texas, Oklahoma and Arkansas and help the company capitalize on increased public water/sewer infrastructure spending.

MasTec, Inc. Acquires Henkels & McCoy Group Inc.

December 20, 2021

Construction

MasTec, Inc. (NYSE: MTZ) agreed to acquire Henkels & McCoy Group Inc., a leading U.S. utility power transmission and distribution contractor, for total consideration of $600 million (approximately $420 million cash plus ~2 million shares of MasTec common stock). The acquisition, which adds roughly 5,100 employees and $1.5 billion of 2021 revenue, expands MasTec's footprint and capabilities in the electric utility services market to support grid modernization and renewable energy buildout.

Boyne Capital Invests in McNish, LLC; Capitala Group Provides Financing

June 3, 2025

Manufacturing

Boyne Capital has made a platform equity investment in McNish, LLC, the Aurora, Illinois-based designer and manufacturer of wastewater treatment equipment (which operates the Walker Process Equipment, Amwell, and E&I Corporation brands). Capitala Group led a senior debt financing package and provided a minority equity co-investment to support the transaction and McNish's growth in the municipal water and wastewater market.

Osmose Utilities Services Acquires Principal Assets of McLean Engineering Company

February 1, 2024

Infrastructure

Osmose Utilities Services, a portfolio company of EQT Infrastructure, acquired the principal assets of McLean Engineering Company to add T&D electrical engineering and pole-attachment/joint-use consulting capabilities. The deal expands Osmose's end-to-end joint-use and pole-attachment services for electric utilities and telecommunications providers; McLean's CEO Sean Knowles and COO Todd Taylor will continue to lead the business unit within Osmose.

MasTec Acquires INTREN from One Equity Partners for $420M

May 6, 2021

Infrastructure

MasTec, Inc. has acquired INTREN, LLC from One Equity Partners for $420 million, including a contingent earnout through year-end 2021. Headquartered in Union, Illinois, INTREN operates as a specialty utilities contractor with approximately 2,000 employees across 14 states and trailing twelve months revenue of about $550 million; MasTec will retain INTREN's brand and integrate its utility distribution capabilities into its infrastructure services.

MasTec Acquires Infrastructure and Energy Alternatives (IEA)

July 25, 2022

Energy

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.