Myr Group Inc. (MYP)
XFRA 
Summary
MYP Chart
MYR Group to acquire Valley Electric and Comet Electric for $328M
MYR Group Inc. (NASDAQ:MYRG) has agreed to acquire all outstanding capital stock of Valley Holdings Inc and its subsidiaries, including Valley Electric Company and Comet Electric, for approximately $328 million, expanding the specialty contractor's footprint in the Western US and Southern California. The Thornton, Colorado-based electric utility infrastructure and commercial construction contractor will fund the purchase through a combination of cash on hand and borrowings under its revolving credit facility, with the consideration subject to net asset and other post-closing purchase price adjustments.
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Myr Group Inc. Profile
| Construction & Engineering Industry | Industrials Sector | Richard S. Swartz Jr. CEO | XFRA Exchange | US55405W1045 ISIN |
| US Country | 8,500 Employees | - Last Dividend | - Last Split | 13 Aug 2008 IPO Date |
Overview
MYR Group Inc. is a foremost provider of electrical construction services in both the United States and Canada, leveraging its vast experience since its founding in 1891. Based in Thornton, Colorado, the company delivers its extensive services through two primary operational segments: Transmission and Distribution, and Commercial and Industrial. Catering to a diverse clientele that includes investor-owned utilities, cooperatives, private developers, governmental-funded utilities, independent power producers, and more, MYR Group Inc. stands out as a crucial player in the electrical construction sector. The company’s commitment to excellence is demonstrated through its comprehensive offerings that range from design and engineering to maintenance, repair services, and the construction of sophisticated electrical infrastructure.
Products and Services
- Transmission and Distribution
- Commercial and Industrial
Within this segment, MYR Group Inc. specializes in services related to electric transmission and distribution networks and substation facilities. Their offerings encompass design, engineering, procurement, construction, upgrade, maintenance, and repair services primarily aimed at the electric utility industry. This includes the construction and maintenance of high voltage transmission lines, substations, lower voltage underground and overhead distribution systems, clean energy projects, and electric vehicle charging infrastructure. Furthermore, the company is adept at providing emergency restoration services in response to natural disasters such as hurricanes and wildfires. Serving as a prime contractor, MYR Group Inc.’s clientele ranges from investor-owned utilities and cooperatives to private developers and independent power producers.
In the realm of commercial and industrial electrical services, MYR Group Inc. provides comprehensive offerings that include the design, installation, maintenance, and repair of commercial and industrial wiring. Additionally, the company is skilled in the installation of intelligent transportation systems, and the lighting and signalization of runways at airports, as well as hospitals, data centers, hotels, stadiums, commercial and industrial facilities, clean energy projects, manufacturing plants, processing facilities, water/waste-water treatment plants, mining facilities, intelligent transportation systems, roadway lighting, signalization, and electric vehicle charging infrastructure. This segment diligently serves general contractors, commercial and industrial facility owners, governmental agencies, and developers, ensuring their projects are powered safely and efficiently.
