Key facts
- MasTec is acquiring Superior Group in a $1.65 billion cash-and-stock deal.
- The acquisition is intended to expand MasTec's data center infrastructure services.
- Superior Group provides electrical systems for data centers.
- MasTec expects to close the deal by mid- to late-July.
Infrastructure engineering and construction firm MasTec announced on Tuesday that it will acquire electrical contractor Superior Group in a $1.65 billion cash-and-stock transaction. The deal is aimed at expanding MasTec's offerings in the data center infrastructure sector. MasTec, which currently focuses on power generation and energy transmission for data centers, will gain the ability to supply electrical systems for these facilities through the acquisition of Superior Group. The move comes amid a broader industry trend of companies enhancing their data center capabilities to meet the growing demand for AI services. MasTec anticipates the deal will be finalized by mid- to late-July.