secwatch.observer — SEC 8-K summary
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Issuer:     Primoris Services Corp (PRIM)
CIK:        0001361538
Form:       8-K
Filed at:   2022-06-27T23:59:59+00:00
Accession:  0001558370-22-010334
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Primoris to acquire PLH Group for $470M; expects double-digit EPS accretion
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- All-cash purchase price of $470 million; funded via $425M incremental term loans under existing credit facility.
- PLH Group generated $733M revenue and $54M adjusted EBITDA for 12 months ended May 31, 2022.
- Transaction nearly doubles Power Delivery business; Utilities segment to exceed 50% of pro forma revenue.
- Primoris expects at least $10M in annual cost savings within 24 months and double-digit EPS accretion in 12 months.
- Targeting net leverage of ~3.3x at close, de-levering to 2.0x by 2024; closing expected in Q3 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1361538/000155837022010334/0001558370-22-010334-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1361538/000155837022010334/prim-20220624x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-22-010334

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