MYR Group Inc（MYRG）資訊與事件MYRGMYR Group Inc

Company Reports Q2 Revenue of $1.08B, Exceeding Expectations

Reports Q2 revenue $1.08B, consensus $994.71M. The company said, "Our strong second quarter performance drove record quarterly revenues of $1.08 billion, while backlog reached $3.16 billion at quarter-end. These results reflect the continued strength of our core markets, ongoing investment in electrical infrastructure, and sustained customer demand across our business. The acquisition of Valley Electric and Comet Electric, which closed on July 1, further enhances our C&I capabilities and expands our geographic footprint, allowing us to deliver a broader range of solutions to both existing and new customers. We continue to see a healthy pipeline of quality bidding opportunities and remain focused on pursuing strategic growth opportunities while strengthening the long-standing relationships that are central to our success. With strong market fundamentals, a growing portfolio of capabilities, and a disciplined approach to project selection and execution, we believe we are well positioned to deliver continued growth and create long-term value for our shareholders."

Prospect Capital Sells Valley Electric for Approximately $328M

Prospect Capital (PSEC) announced the sale of Prospect's portfolio company Valley Electric to MYR Group (MYRG). The closing of the transaction is expected to occur on or about July 1 for consideration of approximately $328M, subject to net asset, other post-closing purchase price adjustments and earn-out payment. Over the life of the Valley Electric investment since 2012 and including expected net exit proceeds of approximately $280M, together with prior interest on debt, equity distributions, and other cash flow streams, Prospect will have achieved a 20.4% realized gross annualized internal rate of return and 4.8 times multiple of invested capital.

MYR Group to Acquire Valley Holdings for Approximately $328M

MYR Group announced that it has entered into a definitive agreement to acquire all issued and outstanding shares of capital stock of Valley Holdings, Inc. and its subsidiaries, including Valley Electric and Comet Electric and their respective affiliates, for consideration of approximately $328M, subject to net asset and other post-closing purchase price adjustments. The company expects to fund the acquisition through a combination of cash on hand and borrowings under its revolving credit facility. Over the last two years, the combined average annual revenues of Valley Electric and Comet Electric were in excess of $400M. The transaction has been approved by the seller and the board of directors of MYR Group and is expected to close on or about July 1, subject to receiving required regulatory approvals and the satisfaction of other customary closing conditions.