MYR Group has agreed to acquire all outstanding shares of Valley Holdings Inc. and its subsidiaries for approximately $328 million.
The acquisition is expected to be funded through a combination of cash on hand and borrowings under MYR’s revolving credit facility. The transaction, which has been approved by MYR’s board and seller Prospect Capital Corp., is expected to close around July 1, 2026, pending regulatory approvals and customary closing conditions. Founded in 1982 and headquartered in Washington state, Valley Electric Co. is one of the largest full-service electrical contractors in the western U.S., serving commercial, industrial, transportation/heavy civil, and marine end markets. Comet Electric, founded in 1976 and headquartered in Chatsworth, Calif., operates as a commercial and industrial electrical contractor focused on southern California.
Stifel is serving as financial advisor to Valley on the transaction.