Quanta Services Inc., a Houston-based utility contractor, announced on Sept. 3 it will acquire Price Gregory Services Inc., a privately held natural-gas and oil transmission pipeline infrastructure contractor, also based in Houston. Quanta says it will pay $350 million in cash and stock in the transaction. Quanta plans to issue about 11.1 million shares of its common stock, which the company values at $250 million, and pay about $100 million in cash to Price Gregory stockholders. Quanta ranked No. 2 on ENR’s Top 600 Specialty Contractors list in 2008. Price Gregory says it had $1.41 billion in revenue in 2008
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.