July 7 (Reuters) - Infrastructure engineering and construction firm MasTec said on Tuesday it would acquire electrical contractor Superior Group in a $1.65 billion cash-and-stock deal, expanding its capabilities in the fast-growing data center infrastructure market.
MasTec's shares were up 2% in extended trading.
The deal adds electrical systems expertise to MasTec's existing offerings for data centers, which include energy, construction and communications infrastructure, as companies ramp up investment
to support surging demand for AI.
"Superior expands our ability to serve one of the most compelling infrastructure opportunities in the market today—the ongoing buildout of data center, power and mission-critical infrastructure," MasTec CEO Jose Mas said.
MasTec said the acquisition is expected to add to revenue and profit. Superior is anticipated to contribute revenue of about $800 million to $900 million and adjusted earnings per share of 50 cents to 65 cents for the rest of 2026.
For the full year, Superior is projected to generate revenue of $1.6 billion to $1.7 billion and adjusted EBITDA of $225 million to $250 million.
Led by Bryan Stewart, Superior employs about 3,000 people and is one of the largest electrical contractors in the United States.
In the January-March quarter, MasTec posted an adjusted profit that nearly tripled to $1.39 per share on revenue that grew 35% to $3.83 billion.
MasTec has been benefiting from the AI-driven expansion of data centers.
The Superior deal is expected to close by mid- to late-July, MasTec said.
(Reporting by Nandan Mandayam in Bengaluru; Editing by Maju Samuel)
