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.

Energy industry