M&A
confidence high
sentiment positive
materiality 0.85
Quanta completes $2.7B acquisition of Blattner, funded with debt and stock
QUANTA SERVICES, INC.
- Closed acquisition of Blattner on Oct 13, 2021 for estimated $2.7B; consideration includes $337.5M in stock (3.33M shares) and cash.
- Up to $300M additional earn-out contingent on financial performance targets post-acquisition.
- Amended credit agreement: $750M delayed draw term loan, revolver raised to $2.64B, maturity extended to Oct 2026.
- Bridge facility (up to $696.1M) terminated concurrently with credit amendment on Oct 8, 2021.
- Also acquired small electric power construction business for ~$55M, including 42,748 unregistered shares.