Primoris Services Corporation acquires PLH Group for $470 million
Primoris Services Corporation, a leading provider of specialty contracting services in North America, announced it has closed its acquisition of PLH Group, Inc. in an all-cash transaction valued at $470 million.
The transaction directly aligns with Primoris’ strategic focus on higher-growth, higher-margin markets and expands its capabilities in the utility markets, including power delivery, communications, and gas utilities.
PLH Group is a utility-focused specialty services company with concentration in growing regions of the U.S. As a result of the acquisition, the majority of PLH operations will be incorporated into Primoris’ Utilities Segment, with the remaining operations going into the Energy/Renewables and Pipeline segments.
“The addition of PLH is an important step in enhancing both the size and scale of our operations in the Power Delivery and Gas Utilities markets. This acquisition will help us capture substantial growth tailwinds as the U.S. transitions to greater dependence on both traditional and renewable energy sources,” said Tom McCormick, Primoris’ President and Chief Executive Officer. “We welcome the PLH team to the Primoris family of companies as we work together to drive our company forward.”
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