Quanta Services Signs Definitive Agreement for Primoris Acquisition
Ticker: PWR · Form: 8-K · Filed: 2024-08-08T00:00:00.000Z
Sentiment: neutral
Topics: acquisition, definitive-agreement, m-and-a
TL;DR
Quanta just locked down the Primoris deal - big consolidation play incoming.
AI Summary
On August 7, 2024, Quanta Services, Inc. entered into a material definitive agreement related to its acquisition of Primoris Services Corporation. The agreement outlines the terms and conditions for this significant transaction, which is expected to impact Quanta's market position and financial structure.
Why It Matters
This acquisition signifies a major strategic move by Quanta Services, potentially consolidating its position in the infrastructure services market and impacting its future growth trajectory and competitive landscape.
Risk Assessment
Risk Level: medium — The acquisition of Primoris Services Corporation involves significant financial commitments and integration challenges, carrying inherent risks related to market conditions and execution.
Key Players & Entities
- Quanta Services, Inc. (company) — Registrant
- Primoris Services Corporation (company) — Acquisition Target
- August 7, 2024 (date) — Date of Material Definitive Agreement
FAQ
What is the nature of the material definitive agreement entered into by Quanta Services, Inc. on August 7, 2024?
Quanta Services, Inc. entered into a material definitive agreement related to its acquisition of Primoris Services Corporation.
What is the primary business of Quanta Services, Inc. according to its SIC code?
Quanta Services, Inc.'s Standard Industrial Classification (SIC) code is 1731, which corresponds to Electrical Work.
In which state was Quanta Services, Inc. incorporated?
Quanta Services, Inc. was incorporated in Delaware.
What is the principal executive office address for Quanta Services, Inc.?
The principal executive office address for Quanta Services, Inc. is 2727 North Loop West, Houston, Texas 77008.
What is the telephone number for Quanta Services, Inc.?
The telephone number for Quanta Services, Inc. is (713) 629-7600.
Filing Stats: 923 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2024-08-07 21:41:29
Key Financial Figures
- $0.00001 — ange on which registered Common Stock, $0.00001 par value PWR New York Stock Exchan
- $600,000,000 — (the "Offering") by the Company of (i) $600,000,000 aggregate principal amount of the Compa
- $650,000,000 — es due 2027 (the "2027 Notes") and (ii) $650,000,000 aggregate principal amount of the Compa
Filing Documents
- d860554d8k.htm (8-K) — 28KB
- d860554dex11.htm (EX-1.1) — 209KB
- d860554dex991.htm (EX-99.1) — 11KB
- g860554g0808020432234.jpg (GRAPHIC) — 6KB
- g860554g0808021835960.jpg (GRAPHIC) — 3KB
- 0001193125-24-196237.txt ( ) — 434KB
- pwr-20240807.xsd (EX-101.SCH) — 2KB
- pwr-20240807_lab.xml (EX-101.LAB) — 17KB
- pwr-20240807_pre.xml (EX-101.PRE) — 11KB
- d860554d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 1.1 Underwriting Agreement, dated August 7, 2024, by and among Quanta Services, Inc. and BofA Securities, Inc., Wells Fargo Securities, LLC, J.P. Morgan Securities LLC, PNC Capital Markets LLC and Truist Securities, Inc., as representatives of the several underwriters named therein. 99.1 Press Release dated August 7, 2024. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated August 7, 2024 Quanta Services, Inc. By: /s/ Jayshree Desai Name: Jayshree Desai Title: Chief Financial Officer