The Daily Dig
MasTec has agreed to acquire Electrical Specialists, Inc., doing business as The Superior Group, in a deal valued at approximately $1.65 billion. Superior is a Columbus, Ohio based electrical contractor with a heritage dating to 1925, under Stewart family leadership since the mid 1980s. The company has grown into one of the largest electrical contractors in the country, with about 3,000 employees.
Superior has built a proven track record delivering complex, large scale projects across the U.S. It is recognized as a leader in data center infrastructure and also serves healthcare, entertainment and industrial markets. Bryan Stewart will remain Chairman and CEO after the deal closes, and Superior's existing management team stays in place.
The numbers point to a business growing fast. Superior posted double digit compounded growth in both revenue and net income over the four years ending December 31, 2025. For full year 2026, Superior is projected to generate $1.6 billion to $1.7 billion in revenue, with Adjusted EBITDA of $225 million to $250 million. MasTec expects Superior to contribute $800 million to $900 million in revenue for the remainder of 2026, with revenue climbing to $2.2 billion to $2.5 billion in 2027.
Prior to the transaction, MasTec's infrastructure work was concentrated outside the fence, including power generation, transmission, substations and site civil work. Superior brings inside the fence capabilities, covering electrical systems, integrated building systems and ongoing facility maintenance. Together, they give MasTec a broader suite of self perform capabilities for hyperscalers, data center developers, general contractors and other mission critical customers.
The release places heavy emphasis on Superior's skilled labor platform. Superior has scaled its workforce from roughly 800 to about 3,000 over the past three years, a growth rate MasTec cites at more than 50% CAGR. The transaction is expected to close in mid to late July 2026, pending antitrust review. Superior will operate as a new group within MasTec, with its financial results expected to be reflected in the Power Delivery segment.
Snapshot:
Acquirer: MasTec, Inc. (NYSE: MTZ)
Target: Electrical Specialists, Inc., d/b/a The Superior Group
Deal Value: Approximately $1.65 billion
Cash Portion: Approximately $1.175 billion
Stock Portion: Approximately $475 million in MasTec common stock
Earnout: Potential payment based on Superior's cumulative 36 month post closing performance
Target Headquarters: Columbus, Ohio
Heritage Dating To: 1925
Target Employees: Approximately 3,000
Target Leadership: Bryan Stewart, Chairman and CEO (remaining in place)
Reporting Segment: Power Delivery segment (expected)
Sector Focus: Data centers, healthcare, entertainment, industrial
Superior 2026 Projected Revenue: $1.6 billion to $1.7 billion
Superior 2026 Projected Adjusted EBITDA: $225 million to $250 million
MasTec's Remainder of 2026 Revenue Contribution Estimate: $800 million to $900 million
MasTec's Remainder of 2026 Adjusted EBITDA Estimate: $100 million to $115 million
MasTec's Remainder of 2026 Adjusted Diluted EPS Estimate: $0.50 to $0.65
2027 Projected Revenue: $2.2 billion to $2.5 billion
2027 Projected Adjusted EBITDA: $250 million to $275 million
Workforce Growth: From approximately 800 to approximately 3,000 employees over three years
Expected Closing: Mid to late July 2026
Financial Advisor to MasTec: Lazard
Legal Advisors to MasTec: Holland & Knight LLP (transaction); Fried, Frank, Harris, Shriver & Jacobson LLP (financing)
Financial Advisor to Superior: UBS Investment Bank
Legal Advisor to Superior: Paul, Weiss, Rifkind, Wharton & Garrison LLP
Conference Call: Wednesday, July 8, 2026, 9:00 a.m. ET
TheJobWalk Thoughts
Superior's growth from 800 to 3,000 employees in three years is the number that matters most in this deal. MasTec didn't just buy a customer list. It bought one of the largest scaled self perform electrical workforces in the country, at a moment when hyperscaler demand is outpacing the labor most contractors can field. Electrical subs chasing the same data center work are now competing against a rival with meaningfully more depth on the bench.
The deal also reshapes what MasTec can offer on a single project. MasTec's work has centered on power generation, transmission and site civil work, the pieces that get power to a building. Superior adds electrical systems, integrated building systems and facility maintenance, extending MasTec's reach inside the fence. GCs and developers assembling a data center team now have one more contractor capable of covering scope from the substation to the server room, which is worth factoring into how future bid packages get structured.
