Henkels & McCoy acquisition
In January 2022, MasTec acquired Henkels & McCoy Group Inc. (Henkels) for $600.0 million. Henkels is one of the leading electrical power transmission and distribution service providers in the United States. The acquisitions adds 5,100 employees and industry-leading capabilities to MasTec’s operations. The scale and capacity offered by Henkels are anticipated to be leveraged to provide a wide-ranging suite of services to customers amid the ongoing transition to renewable energy generation. Furthermore, the acquisition represents a strong growth opportunity for MasTec over the next five years.
New Activity|ESG|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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