M&A TRANSACTION · 2022
Infrastructure and Energy Alternatives, Inc. (IEA) acquired by MasTec, Inc.
$1.10B· 7.6x EBITDA· 0.46x revenue
Target
Infrastructure and Energy Alternatives, Inc. (IEA)
Indianapolis, IN
Premier renewable energy and infrastructure services provider. Capabilities span engineering, procurement, construction. Completed 260+ utility-scale wind and solar projects. Founded 2011.
Acquirer
MasTec, Inc.
Strategic buyer
Disclosed financials at time of acquisition
Revenue
$2400.0M
EBITDA
$145.0M
Deal Value
$1.10B
EV/EBITDA
7.6x
Context
This $1.10B acquisition of Infrastructure and Energy Alternatives, Inc. (IEA) by MasTec, Inc. sits in the electrical sub-vertical. The 7.6x EBITDA multiple paid in 2022 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 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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