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Primoris Services Corporation Completes Plh Group Acquisition

Aug 01, 2022•over 3 years ago

Acquiring Company

Primoris

Acquired Company

PLH GROUP, INC.

IrvingSolarRenewable EnergyConstructionEnergy

Description

Primoris Services Corporation (NASDAQ Global Select: PRIM) (“Primoris” or the “Company”), a leading provider of specialty contracting services in North America, announced today that it has closed its acquisition of PLH Group, Inc. (“PLH Group” or “PLH”) in an all-cash transaction valued at $470 million. The transaction directly aligns with Primoris’ strategic focus on higher-growth, higher-margin markets and expands its capabilities in the utility markets, including power delivery, communications, and gas utilities.

Company Information

Company

Primoris

About

Primoris Services Corporation is a leading specialty contractor providing critical infrastructure services to the utility, energy/renewables and pipeline services markets throughout the United States and Canada. The Company supports a diversified base of blue-chip customers with engineering, procurement, construction and maintenance services. A focus on multi-year master service agreements and an expanded presence in higher-margin, higher-growth markets such as utility-scale solar facility installations, renewable fuels, power delivery systems and communications infrastructure have also increased the Company’s potential for long-term growth. Additional information on Primoris is available at www.primoriscorp.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed