Specialty energy contractor MasTec Inc. says it will expand its clean energy and infrastructure segment with the acquisition of renewables specialist Infrastructure and Energy Alternatives Inc. in a deal valued at $1.1 billion, the companies announced July 25.
The acquisition of Indianapolis-based IEA will allow MasTec to add union-labor clean energy power generation services, and to expand its non-union craft labor capacity, said Jose Mas, CEO of the Coral Gables, Fla.-based firm. That combination “will provide increased scale and capacity needed to meet expected growing customer demand for renewable power generation over the next decade,” he said.