MasTec has plans acquire Infrastructure and Energy Alternatives (IEA) in a deal worth $1.1 billion.
Founded in 2011 with roots dating to 1947, IEA is a premier services provider in renewable energy and infrastructure solutions, with extensive expertise and capabilities spanning engineering, procurement, construction and other related services. It has completed more than 260 utility-scale wind and solar projects across North America and executed a range of complex public and private infrastructure construction projects.
The acquisition is expected to close in late fourth quarter 2022, subject to IEA stockholder approval, regulatory approvals and other customary closing conditions.