About This Deal

MasTec acquired GlobeTec Construction, LLC (additional 45% interest) for $6.5 million cash plus an earn-out (for the incremental 45% interest acquired during 2007), a transaction completed in January 2007, structured as cash plus earn-out.

GlobeTec Construction, LLC (additional 45% interest) operates in Water and sewer, is based in United States. Water and sewer pipeline construction and maintenance business. During 2007 MasTec acquired an additional 45% interest in GlobeTec (moving toward full ownership by 2008). GlobeTec was later classified as a discontinued operation and sold in 2013.

Consolidated ownership of an existing water/sewer construction affiliate.

Water and sewer operations (later discontinued)

Deal Terms

Acquirer
MasTec
Target
GlobeTec Construction, LLC (additional 45% interest)
Value
$6.5 million cash plus an earn-out (for the incremental 45% interest acquired during 2007)
Date
January 2007
Type
Step acquisition (additional equity interest)
Status
Ready

Transaction Details

Target HQ
United States
Segment
Water and sewer
Structure
Cash plus earn-out
Closed
January 1, 2007

Advisors

Advisory firms were not disclosed for this transaction.

Related Deals & Entities

Sources: Press release ↗

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