MasTec to Acquire Superior Group in $1.65 Bn Data Centre Expansion
Synopsis
The acquisition strengthens MasTec's electrical and construction capabilities, positioning the company to capitalise on rising investment in AI-powered data centre infrastructure.
Key Highlights
- MasTec will acquire Superior Group in a US$1.65bn cash-and-stock deal
- AI investment is growing, and MAS completed the acquisition of yet another firm to bolster its data centre infrastructure capabilities.
- Of course, Superior will provide as much as $1.7 billion in yearly revenue.
Infrastructure engineering and construction company MasTec agreed to acquire US data centre specialist Superior Group in a US$1.65 billion cash-and-stock deal in a move that strengthens MasTec’s position in the fast-growing data centre infrastructure market.
The transaction includes US$1.175 billion cash and US$475 million in shares of MasTec which illustrates ongoing spend by Telcos on AI infrastructure amid rapidly evolving demand for data centres.
Acquisition Expands AI Infrastructure Business
The $1.65 billion acquisition adds strong electrical contractor capabilities to MasTec’s portfolio of energy and communications and data centre construction services. The company said the acquisition enhances its capacity to support the continuing MasTec AI infrastructure buildout as businesses maintain significant investment in AI computing and mission-critical infrastructure.
With around 3,000 employees, Superior Group Columbus Ohio is a leading electrical contractor in America and is led by Bryan Stewart.
The acquisition is slated to boost revenues and earnings
MasTec plans to make the acquisition earnings and revenue accretive. Superior is expected to contribute approximately $800 million-$900 million in revenue and earnings per diluted share of 50 cents to 60 cents for the remainder of 2026.
The company said it expects to have revenues of between US$1.6 billion and US$1.7 billion and adjusted EBITDA of around US$225 million to US$250 million for the entire year.
MasTec has been getting a boost from surging capital expenditures on new data centre infrastructure to make use of AI. For the January-March quarter, the company claimed adjusted earnings of US$1.39 a share, with revenue up 35% to US$3.83 billion.
The transaction is anticipated to be completed from mid- to late-July 2026.
Source: Reuters
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