MasTec Bets Big on AI Infrastructure With $1.65B Superior Group Deal

MasTec Bets Big on AI Infrastructure With $1.65B Superior Group Deal Written by MarketBeat July 12, 2026 Share Link copied to clipboard. Image from MarketBeat Media, LLC. Key Points MasTec is buying Superior Group for about $1.65 billion , with the deal structured as $1.175 billion in cash, $475 million in MasTec stock, and a performance-based earn-out. The company expects to close the transaction later this month pending regulatory approval. The acquisition is designed to deepen MasTec’s exposure to AI, cloud, and data center infrastructure . Superior adds electrical construction and related services “inside the campus,” complementing MasTec’s existing work on power and communications infrastructure outside data centers. MasTec expects the deal to be immediately accretive to revenue, EBITDA, EPS, and cash flow, with Superior projected to add roughly $800 million to $900 million of revenue and $100 million to $150 million of adjusted EBITDA in 2026. Management also said the transaction should keep leverage manageable and strengthen the company’s long-term growth outlook. Five stocks we like better than MasTec . 3 Stocks Cashing In on AI While Everyone Watches NVIDIA MasTec NYSE: MTZ said it has entered into a definitive agreement to acquire The Superior Group, an electrical infrastructure contractor focused on data centers and other mission-critical markets, in a transaction valued at approximately $1.65 billion upfront. Chief Executive Officer Jose Mas said on the conference call that the acquisition expands MasTec’s position in infrastructure tied to artificial intelligence, cloud computing and digital infrastructure. He described Superior as “one of the premier electrical infrastructure contractors” serving hyperscalers, data center developers and mission-critical customers across the United States. Get MasTec alerts: Sign Up 3 Energy Stocks to Buy as AI Power Demand Surges—and 2 to Avoid “We believe this represents a generational infrastructure investment opportunity for the companies with the capabilities, skilled workforce, and track record to help build it,” Mas said. Deal Terms and Financing Chief Financial Officer Paul DiMarco said the purchase price consists of $1.175 billion in cash and $475 million in MasTec common stock, along with a performance-based earn-out tied to Superior’s financial results over the three years after closing. MasTec expects to issue approximately 1.2 million shares as part of the equity consideration. This infrastructure construction stock: Is it ready to pop? DiMarco said MasTec expects to fund the cash portion through cash on hand, borrowings under its existing credit facility and delayed-draw term loan facilities arranged for the transaction. The company expects the deal to close later this month after regulatory clearance. The upfront consideration represents 6.9 times Superior’s expected 2026 EBITDA, DiMarco said. In response to an analyst question, Mas said MasTec expects the earn-out to add about one additional turn to the upfront multiple, depending on Superior’s performance. He added that the earn-out is uncapped and based on performance targets over three years. Expected Financial Contribution MasTec said it expects the acquisition to be immediately accretive to revenue, adjusted EBITDA, earnings per share and cash flow from operations. For 2026, MasTec expects Superior to contribute approximately five months of earnings to consolidated results, including: $800 million to $900 million of revenue; $100 million to $150 million of adjusted EBITDA; and $0.50 to $0.65 of adjusted earnings per share. For the full year 2026, Superior is projected to generate approximately $1.6 billion to $1.7 billion of revenue and $225 million to $250 million of adjusted EBITDA. Looking ahead to 2027, MasTec expects Superior to generate $2.2 billion to $2.5 billion of revenue and $250 million to $275 million of adjusted EBITDA. DiMarco said the expectations are preliminary, reflect a conservative approach and do not include revenue synergies, cross-selling opportunities or operational benefits from combining the businesses. Superior will become a new operating group within MasTec, and its results are expected to be reflected in the Power Delivery segment. Data Center and Power Infrastructure Focus Mas said the transaction strengthens MasTec’s position in markets where power infrastructure, communications infrastructure and data center development are converging. He said MasTec already delivers critical infrastructure that brings power, communications and energy to data center campuses, while Superior adds capabilities “inside the campus” through electrical construction, integrated systems, prefabrication, commissioning support and maintenance services. Mas said the combination gives MasTec a broader offering across the infrastructure value chain. He said customers increasingly want larger, integrated partners that can self-perform work, mobilize labor at scale and deliver complex proj