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Quanta Services acquires Price Gregory Services for US$96 million

Fasken
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Overview

Client

Quanta Services, Inc.

On October 1, 2009, Quanta Services, Inc. (NYSE: PWR) closed the acquisition of Price Gregory Services, Incorporated, a leading transmission pipeline infrastructure service provider. In connection with the acquisition, Quanta issued approximately 10.9 million shares of Quanta common stock and paid approximately $96 million in cash to the stockholders of Price Gregory Services. Building on Quanta's leadership role in the electric power transmission industry, the acquisition strongly positions Quanta as a leader in the North American energy transmission infrastructure market and will enable the company to take advantage of the positive long-term outlook for the natural gas and transmission pipeline industry. In conjunction with the acquisition, Quanta has formed a new division called the Natural Gas and Pipeline Division. Quanta Services is a leading specialized contracting services company, delivering infrastructure network solutions for the electric power, natural gas, telecommunications and cable television industries. Quanta Services was advised on Canadian aspects of this transaction by Fasken Martineau with a team led by Gary Ott and including, among others, Carmine Boskovich (corporate), Ross Gascho (pensions), Lorene Novakowksi (labour and employment) and Tanner Helwig and Chelsea Bushfield (corporate).

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