MasTec buys Canadian oil and gas firm for about $127M
Deal worth about $103-million cash, plus assumption of $24-million debt
CORAL GABLES, Fla.—Florida-based infrastructure construction firm MasTec, Inc. has bought an Alberta energy service firm in a deal worth approximately $127-million.
The deal for Big Country Energy Services Inc. is worth about $103-million cash, plus the assumption of $24-million in debt, according to MasTec.
Headquartered in Calgary, Big Country specializes in oil and gas pipeline and facility construction services.
The company also has offices in British Columbia, Saskatchewan, Wyoming and North Dakota.
“We are very excited about the Big Country acquisition,” MasTec CEO Jose Mas said in a statement. “This acquisition is consistent with our recent public comments regarding our expansion plans in Canada’s dynamic energy sector.”
With approximately 1,200 employees and 600 pieces of construction equipment, Big Country has a customer base that includes firms like Shell, Enbridge, Suncor, Encana, ConocoPhillips and Cenovus Energy.