Primoris Services Corp., a leading provider of specialty contracting services in North America, has closed its acquisition of PLH Group Inc., in an all-cash transaction valued at $470 million.
First announced in June, the transaction directly aligns with Primoris’ strategic focus on higher-growth, higher-margin markets and expands its capabilities in the utility markets, including power delivery, communications, and gas utilities.
PLH Group is a utility-focused specialty services company with concentration in growing regions of the United States. As a result of the acquisition, the majority of PLH operations will be incorporated into Primoris’ Utilities Segment, with the remaining operations going into the Energy/Renewables and Pipeline segments.
“The addition of PLH is an important step in enhancing both the size and scale of our operations in the Power Delivery and Gas Utilities markets. This acquisition will help us capture substantial growth tailwinds as the U.S. transitions to greater dependence on both traditional and renewable energy sources,” said Primoris president and CEO Tom McCormick in an Aug. 1 statement. “We welcome the PLH team to the Primoris family of companies as we work together to drive our company forward.”
Primoris Services is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, power delivery systems and communications infrastructure have also increased the company’s potential for long-term growth. Additional information on Primoris is available at primoriscorp.com.Tags: mergers and acquisitions, PLH Group, Primoris Services Corp