Florida-based specialty contractor MasTec Inc. has agreed to acquire electrical power transmission and distribution utility services firm Henkels McCoy in a $600-mil-lion deal that is set to close by year end. In a Dec. 20 conference call with analysts and investors, CEO Jose Mas said the planned acquisition is the largest in company history and comes at the "right time" to continue expanding its non-oil and gas energy services. MasTec's power transmission and distribution (TD) business is expected to account for about 25 of its 2022 revenue after the transaction, with its fossil fuel pipeline and related segment making up just under 20, he said.
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