What did MasTec, Inc. pay for Henkels & McCoy Group, Inc.?

$600.0M, equivalent to 8.6× EBITDA / 0.40× revenue. Target revenue was approximately $1500.0M. Target EBITDA was approximately $70.0M.

ACQUIRED · 2021

Who Acquired Henkels & McCoy Group, Inc.?

MasTec, Inc. · $600.0M· 8.6× EBITDA

The acquisition

Henkels & McCoy Group, Inc. (Blue Bell, PA) was acquired by MasTec, Inc. in 2021 for $600.0M. One of the largest US private electrical power transmission and distribution utility services firms. 5th largest US utility contractor per 2021 ENR ranking. Founded 1923.. The deal was priced at 8.6× EBITDA / 0.40× revenue.

Henkels & McCoy Group, Inc. at time of acquisition

Revenue

$1500.0M

EBITDA

$70.0M

Deal value

$600.0M

EV / EBITDA

8.6×

Other acquisitions by MasTec, Inc.

Recent transactions by the same buyer — useful for understanding their playbook and what they typically pay.

Infrastructure and Energy Alternatives, Inc. (IEA) · 2022 · $1.10B · 7.6× EBITDA

Similar electrical acquisitions

Power Solutions, LLC · acquired by Dycom Industries in 2025 · $1.95B
Miller Electric Company · acquired by EMCOR Group in 2025 · $865.0M
Cupertino Electric, Inc. · acquired by Quanta Services in 2024 · $1.54B
Infrastructure and Energy Alternatives, Inc. (IEA) · acquired by MasTec, Inc. in 2022 · $1.10B
Blattner Holding Company · acquired by Quanta Services in 2021 · $2.70B

Run a valuation for a similar electrical business

Three fields, instant range, backed by 25,592 real M&A transactions including this one.

Open the electrical calculator →