MasTec, Inc. (NYSE:MTZ) today announced that it has entered into a definitive agreement to acquire Electrical Specialists, Inc., d/b/a The Superior Group ("Superior"), a premier full-service electrical contractor focused on critical infrastructure (the "Transaction").

Superior is projected to generate full year 2026 revenue and Adjusted EBITDA (a non-GAAP measure) of approximately $1.6 billion to $1.7 billion and approximately $225 million to $250 million, respectively. Superior will serve as a new operating group of MasTec, and Superior’s financial results are expected to be reflected in the Power Delivery segment.

The purchase price is approximately $1.65 billion, consisting of approximately $475 million payable in shares of MasTec common stock and approximately $1.175 billion payable in cash, subject to customary purchase price adjustments.