MasTec has agreed to acquire Electrical Specialists, doing business as The Superior Group, in a transaction valued at approximately $1.65 billion, a deal the company said will deepen its reach in data center and mission-critical infrastructure.
The purchase price includes about $475 million in MasTec common stock and about $1.175 billion in cash, subject to customary purchase price adjustments. The agreement also includes a potential earnout tied to Superior’s cumulative 36-month financial performance after closing.
MasTec said the acquisition is part of its strategy to expand infrastructure capacity for demand linked to data centers, power, and other mission-critical projects. The company said the deal broadens its capabilities from power generation and grid interconnection into electrical systems, connectivity, and long-term maintenance services.
Superior, founded in 1925 and based in Columbus, Ohio, is a full-service electrical contractor focused on critical infrastructure. Led by the Stewart family since the mid-1980s, the company has grown into one of the largest electrical contractors in the U.S.
The company employs approximately 3,000 people and works on large-scale projects nationwide. MasTec described Superior as a leader in data center infrastructure, with additional work across healthcare, entertainment, industrial, and other end markets. Its services include design, preconstruction, construction, project management, engineering, integrated systems, prefabrication, modular manufacturing, maintenance, repair, and retrofit work.
Superior is projected to generate full-year 2026 revenue of approximately $1.6 billion to $1.7 billion and adjusted EBITDA of approximately $225 million to $250 million. After the transaction closes, Superior will operate as a new MasTec operating group, and its financial results are expected to be reflected in MasTec’s Power Delivery segment.
MasTec said the acquisition is expected to be immediately accretive to revenue, adjusted EBITDA, adjusted diluted EPS, and cash flow from operations. For the remainder of 2026, the company expects Superior to contribute revenue of $800 million to $900 million, adjusted EBITDA of $100 million to $115 million, and adjusted diluted EPS of $0.50 to $0.65.
For full-year 2027, MasTec expects Superior to generate revenue of $2.2 billion to $2.5 billion and adjusted EBITDA of $250 million to $275 million.
Superior’s existing management team, including Chairman and CEO Bryan Stewart, will remain in place. He had this to say of the transition:
"As we enter our second century of business, I’m thrilled that Superior will soon join the MasTec family. Superior’s deep experience in building critical infrastructure, combined with MasTec’s leadership across the power, energy and communications sectors, position us to lead the buildout of new projects throughout the U.S. Together, we’ll capitalize on this once-in-a-generation opportunity to build the foundation of America’s digital future."
Jose Mas, the CEO of MasTec, remarked on the acquisition, "We are excited to welcome Superior, Bryan, his leadership team and approximately 3,000 talented team members to the MasTec family. Superior has built one of the premier electrical infrastructure platforms in the United States, with a proven ability to scale resources, execute complex projects and deliver for some of the most demanding mission-critical customers in the industry. We believe the combination of Superior’s leadership, skilled workforce and electrical expertise with MasTec’s national scale, customer relationships and diversified capabilities will create significant value for our customers, employees and shareholders."
The transaction remains subject to customary conditions, including antitrust regulatory approval, and is expected to close in mid-to-late July 2026.
Lazard is serving as financial advisor to MasTec. Holland & Knight and Fried Frank are serving as MasTec’s transaction and financing legal advisors, respectively. UBS Investment Bank is serving as financial advisor to Superior, and Paul Weiss is serving as its legal advisor.
