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IEA to Be Acquired by MasTec in $1.1 Billion Deal
- Client News
- July 25, 2022
Paul, Weiss is representing entities affiliated with Ares Capital Management in the cash-and-stock sale of Infrastructure and Energy Alternatives, Inc. (IEA) to MasTec, a multinational infrastructure engineering and construction company. IEA is an Indiana-based infrastructure construction company with a focus on renewable energy solutions. Under the terms of the deal, IEA stockholders will receive $14.00 per share, comprised of $10.50 per share in cash and 0.0483 of a MasTec share, with a value of $3.50 per share, representing a total consideration of about $1.1 billion. The transaction is expected to close in the fourth quarter of 2022, subject to customary closing conditions and approvals.
The Paul, Weiss team includes, among others, corporate partners Kenneth Schneider and Michael Vogel, and counsel Lyudmila Bondarenko; tax partner Scott Sontag; litigation partners Jaren Janghorbani and Andre Bouchard; and antitrust counsel Marta Kelly.