Moving ahead on previously communicated plans to pivot from oil and gas sector construction, specialty contracting giant MasTec Inc. said May 5 it has completed the $420-million cash purchase of INTREN LLC, a leading Union, Ill.-based specialty contractor focused on electrical distribution for utilities and others under multi-year master service agreements.
Matthew Turk, INTREN'S newly elevated chief operating officer, told ENR that under the completed transaction, the firm becomes a wholly-owned unit of MasTec, although that was not noted in announcements by the buyer or seller. INTREN CEO Sherina M. Edwards retains her title, acquired in January, with the role of president added.