Primoris Services (PRIM) said Tuesday that has agreed to acquire electrical contracting and engineering company PayneCrest Electric in an all-cash deal worth $422 million.
The company said the $422 million includes $400 million funded through borrowings under an amended credit agreement with its bank group.
Primoris expects the deal to close in Q2.
Shares of Primoris were up 2.1% pre-bell.
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