Primoris Services has acquired PLH Group for $470 million.
PLH Group is a utility-focused speciality construction company focused on growing regions of the U.S.
“This acquisition aligns solidly with our strategic focus on higher-growth, higher-margin business segments,” said Tom McCormick, CEO of Primoris. “It expands our footprint for Power Delivery services at a time when improvement and expansion of our domestic electric grid is driving massive capital investment in this market.”
UBS Investment Bank served as financial advisor to Primoris, and Gibson, Dunn & Crutcher LLP served as legal counsel. Stifel, Nicolaus & Company served as financial advisor to PLH Group. K&L Gates LLP served as PLH Group’s legal counsel.