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Today's Transactions:
Primoris Services Buys Q3 Contracting for $48M

The target constructs pipelines

Construction company, Primoris Services Corp. (Nasdaq: PRIM), will acquire Q3 Contracting Inc., a company that specializes in small-diameter pipeline and gas distribution construction, for $48.1 million.
 
Primoris, headquartered in Dallas, could pay an additional $7.5 million if the Q3 Contracting reaches financial targets.
 
The buyer hopes the acquisition will broaden its presence in pipeline construction and replacement work.
 
Little Canada, Minn.-based Q3 Contracting serves investor-owned utilities in Minnesota, Iowa, Wisconsin, Missouri, South Dakota, North Dakota, Illinois, Nebraska, Ohio and Colorado. The company will operate as part of Primoris’ west coast construction services segment.

 

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