M&A
confidence high
sentiment positive
materiality 0.85
Quanta Services to acquire Blattner Holding for $2.7B in cash-and-stock deal
QUANTA SERVICES, INC.
- Consideration: $2.36B cash + ~$340M in Quanta stock at closing, plus up to $300M earnout based on performance targets.
- Blattner is a leading utility-scale renewable energy infrastructure provider (wind, solar, storage), 2020 revenue ~$2.4B, adj. EBITDA ~$291M.
- Quanta expects Blattner 2022 revenue $2.5-$2.7B, adj. EBITDA $250-$290M, EPS contribution $0.80-$1.00; accretion expected without synergies.
- Deal expected to close in Q4 2021, subject to regulatory approvals; financing via bridge commitments up to $2.1835B from BofA and Wells Fargo.
- Management to remain: Scott Blattner continues as President; Blattner will operate as a platform unit of Quanta.