MasTec to Acquire The Superior Group

Fried Frank advised MasTec, Inc. on $700 million of term loans to support its announced acquisition of The Superior Group in a $1.65 billion cash-and-stock transaction.

MasTec also increased its revolving credit facility by $350 million, bringing total commitments to $2.25 billion, and expects to use borrowings under that facility to finance a portion of the acquisition.

MasTec is a leading North American infrastructure engineering and construction company focused on communications, energy, utilities, and other infrastructure. Superior is a national leader in electrical design and construction, with a strong focus on critical infrastructure, including data centers.

Finance partner Caroline Sandberg and capital markets partner Joshua Wechsler led the Fried Frank team, which included tax partner Joseph E. Fox, finance special counsel Heidi Spalholz and capital markets special counsel Matthew I. Levy, and finance associate Maura Pallitta.

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