MasTec buys electrical contractor Superior Group for $1.7B

MasTec, the Coral Gables-based infrastructure construction giant, is acquiring Ohio’s Superior Group for $1.7 billion, a deal built squarely around the surge in demand for data centers and power infrastructure reshaping the built environment.

The company, led by CEO Jose Mas, will pay $1.2 billion in cash and $475 million in stock for the firm — formally Electrical Specialists, doing business as The Superior Group — with a possible earnout tied to performance over the three years after closing, expected by the end of this month.

Why it matters. MasTec is one of the largest infrastructure builders in the country, and the acquisition pushes it into a category of electrical work it has not traditionally performed. That capability is increasingly valuable: the same wave of data center, grid and mission-critical power projects driving Miami-area corporate expansion is straining the pool of contractors able to build it. Owning the electrical scope lets MasTec capture more of each project’s budget.

The numbers. Founded in 1925, Superior Group employs more than 3,000 people nationwide and is projected to generate $1.6 billion to $1.7 billion in revenue this year, with adjusted core earnings of $225 million to $250 million. MasTec, which posted $14.3 billion in revenue last year, expects the acquisition to add $2.2 billion to $2.5 billion in revenue in 2027. Current CEO Bryan Stewart will stay on.

What’s next. The deal deepens MasTec’s exposure to the electrification and data center buildout that is now one of the biggest drivers of construction spending nationally. As demand for power and mission-critical infrastructure outpaces the specialized labor to deliver it, expect more consolidation among the contractors positioned to serve it — and more scrutiny of who can actually staff the work.