MasTec (MTZ) investor relations material

Deal rationale and strategic fit

• Expands presence in the high-growth electrical infrastructure market, especially for data centers and mission-critical facilities across the U.S., establishing a leading full-lifecycle partner for these sectors.

• Deepens relationships with hyperscalers, data center developers, and technology customers, leveraging Superior's strong customer base and proven execution in complex projects.

• Adds one of the largest self-perform electrical workforces in the U.S., with over 2,700 skilled field electricians and technicians, providing scalable labor mobilization and differentiated execution.

• Brings an experienced leadership team with strong cultural alignment and a track record of high growth and integration.

• Enables a full turnkey service offering, enhancing value for customers and expanding the addressable market.

Financial terms and conditions

• Purchase price is approximately $1.65 billion: $1.175 billion in cash and $475 million in stock, subject to adjustments, plus an uncapped, performance-based earn-out over three years.

• Cash funded via cash on hand, existing credit facility, and new term loan facilities.

• 1.2 million shares issued for equity consideration.

• Upfront multiple is 6.9x expected 2026 EBITDA; earn-out could add about one turn to the multiple.

• Transaction expected to close mid to late July 2026, pending regulatory clearance.

Synergies and expected cost savings

• No revenue synergies or operational benefits are built into initial projections; cross-selling and operational synergies are expected to develop over time.

• Revenue cross-selling and operating margin improvement opportunities anticipated in 2027 and beyond.

• Superior projected to contribute $800–$900 million revenue and $100–$115 million adjusted EBITDA for the remainder of 2026.

• Full year 2027 revenue expected at $2.2–$2.5 billion and adjusted EBITDA at $250–$275 million.

• Superior's consolidated operations expected to achieve Adjusted EBITDA margins in the low double-digit range over time.