The acquisition is immediately earnings-accretive given the target's large revenue base vs. the purchase price. Monitor the close date (July 1) and any regulatory hurdles, as well as integration execution in the C&I segment.
Price Chart
Executive Summary
MYR Group announced the acquisition of Valley Holdings, Inc. (Valley Electric and Comet Electric) for approximately $328.0 million, funded through cash on hand and its revolving credit facility. The deal strengthens MYR's Commercial & Industrial segment in the Western U.S., adding combined average annual revenues in excess of $400 million. Expected close is July 1, 2026, subject to customary approvals.
Key Financial Metrics
Key Facts
- Acquisition consideration ~$328.0 million; funded via cash on hand and revolving credit facility.
- Targets: Valley Electric (Everett, WA) and Comet Electric (Chatsworth, CA) — full-service electrical contractors in Western U.S.
- Combined average annual revenues of Valley and Comet exceeded $400 million over the last two years.
- Expected to close on or about July 1, 2026; approved by seller (Prospect Capital Corporation) and MYR Board.
- Acquisition enhances MYR's C&I segment geographic reach and service offerings in data centers, transportation, and more.
Financial Impact
~$328.0 million acquisition price; acquired companies generate >$400 million in combined average annual revenue
Risk Factors
- Integration risk — combining two large contractors with distinct workforces and cultures
- Financing risk — reliance on revolving credit facility may increase leverage
- Regulatory approval conditions could delay or block the close
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3302388 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 22, 2026 5w ago | Institutional Cluster | $305.27 $289.05 | ▼ −5.31% | ▼ −6.63% | $304.77 (−0.16%) |
Jun 4, 2026 17w ago | Insider Cluster | $445.66 $442.72 | ▼ −0.66% | ▼ −2.52% | $304.77 (−31.61%) |
May 27, 2026 18w ago | Press Release | $478.93 $477.95 | ▼ −0.20% | ▲ +2.94% | $304.77 (−36.36%) |
Apr 15, 2026 24w ago | Press Release | $315.26 $467.97 | ▲ +48.44% | ▲ +42.62% | $304.77 (−3.33%) |
Feb 25, 2026 31w ago | 8-K | $274.01 $285.18 | ▲ +4.08% | ▲ +9.31% | $304.77 (+11.23%) |
US Market Status
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