Quanta Services acquires another Houston-area co. in deal worth up to $550M

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Houston-based Quanta Services Inc. (NYSE: PWR) on July 20 closed on a deal to acquire La Porte-based Stronghold Ltd. and Stronghold Specialty Ltd., which serves the downstream and midstream energy markets. Quanta made an initial payment of about $450 million, composed of $360 million in cash and 2.7 million shares of Quanta’s common stock valued at about $90 million. The deal also includes a cash-and-stock earnout for up to an additional $100 million if three-year EBITDA targets are achieved. Stronghold…


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