Primoris to acquire PayneCrest for $422 million, expanding electrical infrastructure capabilities
(UI) — Primoris Services Corporation has entered into an agreement to acquire PayneCrest Electric in a $422 million all-cash transaction, expanding its electrical construction and infrastructure service capabilities.
PayneCrest, based in St. Louis, provides electrical design, construction and maintenance services for industrial, manufacturing and advanced facility projects, including data centers. The company is expected to generate between $350 million and $370 million in revenue in 2026.
Primoris said the acquisition will strengthen its position in high-growth end markets, particularly data center infrastructure, while enhancing integration across its industrial, energy and renewables service lines.
Upon closing, PayneCrest will be integrated into Primoris’ Energy segment, supporting the company’s broader strategy to expand its capabilities in power and infrastructure services.
The transaction is expected to contribute to revenue growth and operating margins, while expanding Primoris’ geographic footprint and customer base.
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