DALLAS, TX — Primoris Services Corporation, a provider of specialty contracting services in North America, announces that it has closed its acquisition of Future Infrastructure Holdings, LLC (Future Infrastructure or FIH) in an all-cash transaction valued at $620 million. The transaction directly aligns with Primoris’ strategy to grow in large, higher growth, higher margin markets, and expands the company’s utility services capabilities.
Future Infrastructure is a provider of non-discretionary maintenance, repair, upgrade, and installation services to the telecommunication, regulated gas utility, and infrastructure markets. As a result of the acquisition, Future Infrastructure will be integrated into the company’s Utilities Segment, furthering Primoris’ strategic plan to expand its service lines, enter new markets, and grow the company’s MSA revenue base.
“The addition of Future Infrastructure marks the completion of a strategic goal for Primoris, but also marks the beginning of a new stage in our strategic journey to create the company we believe we can be — together," said Tom McCormick, Primoris’ President and Chief Executive Officer. "With values and cultures that are already aligned in many ways, we are confident that this combination will lead us to even greater successes.”
Primoris Services Corporation Completes Future Infrastructure Acquisition
