Skip navigation
Communication_Towers_GettyImages-625997612.jpg SasinParaksa Getty Images

Quanta Buys Three Companies

The total combined sale price for the three companies was approximately $330 million.

Quanta Services Inc., Houston, TX, completed the acquisition of Hallen Construction Co., Plainview, NY, a gas utility contractor serving key strategic markets in the northeastern United States. Founded in 1927, Hallen provides gas distribution and transmission services and, to a lesser extent, underground electric distribution and transmission services. In addition to the purchase of Hallen, Quanta recently completed the acquisition of two specialty utility foundation and pole-setting contractors serving the southeast United States.
The press release announcing the acquisition said Hallen also provides a utility services platform in the Northeast that Quanta can use to further expand its electric infrastructure services offering.
Duke Austin, Quanta’s president and CEO, said in the press release, “Hallen represents a sizeable expansion into key Northeast markets characterized by aged infrastructure and mandatory multi-decade modernization programs that are in their early stages, which we believe improves our long-term visibility and provides attractive multi-year growth opportunities and accretive returns for our stockholders.”

TAGS: News
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish