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

MasTec, Inc. acquired Henkels & McCoy Group, Inc. for $600.0M in 2021 (8.6x EBITDA), equivalent to 0.40x revenue. Target revenue was approximately $1500.0M. Target EBITDA was approximately $70.0M.

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

8.6x EBITDA and 0.40x revenue, based on disclosed deal value of $600.0M and disclosed financials.

M&A TRANSACTION · 2021

Henkels & McCoy Group, Inc. acquired by MasTec, Inc.

$600.0M· 8.6x EBITDA· 0.40x revenue

Target

Henkels & McCoy Group, Inc.

Blue Bell, PA

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.

Acquirer

MasTec, Inc.

Strategic buyer

Disclosed financials at time of acquisition

Revenue

$1500.0M

EBITDA

$70.0M

Deal Value

$600.0M

EV/EBITDA

8.6x

Context

This $600.0M acquisition of Henkels & McCoy Group, Inc. by MasTec, Inc. sits in the electrical sub-vertical. The 8.6x EBITDA multiple paid in 2021 can be compared against the population median for electrical transactions of similar size on our Electrical valuation hub. MasTec, Inc. is acquiring as a strategic buyer; see how strategic acquirers typically price electrical businesses on our Electrical strategic buyer-pool page.

Source

Data sourced from Engineering News-Record / MasTec press release — primary source. All figures reflect disclosed values at the time of the acquisition; no estimated or imputed data. Methodology

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Citation: ExitValue.ai. (2021). Henkels & McCoy Group, Inc. acquired by MasTec, Inc.. https://exitvalue.ai/deals/henkels-mccoy-group-inc-acquired-by-mastec-inc-electrical-p