Increases Exposure to Large and Growing Renewable Energy Markets (Wind, Solar and Energy Storage)
Positions Quanta as an Industry Leader to Collaborate with Customers to Shape the U.S. Energy Transition
Expected to be Accretive to Quanta’s Growth, Margins, Cash Flow Conversion and EPS Without Synergy Assumptions
Estimated Adjusted EBITDA and Adjusted EPS Contributions of Approximately $250MM – $290MM and $0.80 – $1.00 in 2022
Enhances Quanta’s Already Favorable ESG Profile
HOUSTON, Sept. 2, 2021 /PRNewswire/ — Quanta Services, Inc. (NYSE: PWR) announced today that it has entered into a definitive agreement to acquire Blattner Holding Company (Blattner), one of the largest and leading utility-scale renewable energy infrastructure solutions provider in North America. Founded in 1907 and headquartered in Avon, Minnesota, Blattner provides front-end engineering, procurement, project management and construction services to leading renewable energy developers for wind, solar and energy storage projects. Through its geographically and technologically diverse capabilities, Blattner has completed or been awarded more than 300 wind projects (+49 GW installed generating capacity), more than 90 solar projects (+12 GW installed generating capacity) and 17 energy storage projects. Over the last several years, Blattner has achieved double-digit organic revenue and profit growth by leveraging its operational expertise and collaborative customer relationships. Blattner generated full-year 2020 revenues and adjusted EBITDA (a non-GAAP measure) of approximately $2.4 billion and $291 million, respectively. As described in further detail below, the consideration to be paid at closing for the transaction is approximately $2.7 billion.
Duke Austin, Quanta’s President and Chief Executive Officer,