US-based MasTec has acquired Canada-based oil and gas pipeline and facility construction services company Big Country Energy Services and its affiliated operating firms for $127m.
As part of the deal, the company will acquire all of the issued and outstanding equity interests of Big Country for $103m in cash and the assumption of about $24m in debt, as well as a five-year contingent earn-out.
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Big Country provides services in oil, natural gas and natural gas liquids gathering systems, pipeline construction, pipeline modification and replacement services.
It also provides services in compressor and pumping station construction and in other related services to support the oil and gas production, processing and transportation industries.
The company works with different energy and pipeline companies such as Shell, Canadian Natural Resources, Enbridge, Suncor, Encana, Husky, ConocoPhillips, and Cenovus Energy.
MasTec CEO Jose Mas said Big Country acquisition is part of the company’s expansion plans in Canada’s energy sector.
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By GlobalData"Big Country has an excellent management team and has consistently been named as one of Canada’s 50 Best Managed Companies in the annual national award sponsored by Deloitte, CIBC Banking, the National Post and Queens School of Business," Mas added.
"Big Country has received Platinum status in the award program for seven consecutive years."
MasTec provides services in electrical utility transmission and distribution, natural gas and petroleum pipeline infrastructure, wireless, wireline and satellite communications, wind farms, solar farms and other renewable energy and industrial infrastructure.
Image: MasTec has acquired oil and gas pipeline and facility construction services company Big Country Energy Services for $127m. Photo: Courtesy of Jarvin.
