MasTec and Infrastructure and Energy Alternatives (IEA) have announced that they have entered into a definitive agreement under which MasTec will acquire all of the outstanding shares of IEA in a cash-and-stock transaction valued at $14.00 per IEA share.
The transaction has been unanimously approved by the Boards of Directors of both MasTec and IEA, and is subject to customary closing conditions, including IEA stockholders and Hart-Scott-Rodino approvals, with an expected closing late fourth quarter of 2022. Founded in 2011 with roots dating to 1947, IEA is a service provider in renewable energy and infrastructure solutions. It has completed more than 260 utility-scale wind and solar projects across North America and executed a range of complex public and private infrastructure construction projects.
