Dycom acquisition history

Pennsylvania-based provider of outside plant construction services to telephone and cable companies; merged into a Dycom acquisition subsidiary. One of Dycom's earliest roll-up acquisitions as it built a national specialty-contracting platform.

Missouri-based specialty contractor acquired alongside Cable Com Inc. through two Dycom acquisition subsidiaries under an Agreement and Plan of Merger dated February 23, 1998.

Delaware-based specialty contracting company (referred to in the prompt as 'Cablecom') acquired the same day as Installation Technicians under a separate merger agreement dated February 23, 1998. Served cable television operators.

Kentucky-based cable construction contractor acquired under a Stock Purchase Agreement dated March 12, 1999. Dycom purchased all outstanding shares; sellers received 258,066 Dycom shares and $21.75 million in cash. Ervin became one of Dycom's larger cable-construction subsidiaries. approximately $21.75 million cash plus 258,066 Dycom shares.

Kentucky-based company acquired the same day as Ervin Cable through Dycom Acquisition Corporation III under a merger agreement dated March 12, 1999. Focused on digital television installation services.

Cable-splicing specialty contractor acquired in August 1999 for roughly $10.0 million cash and 73,309 Dycom shares, an aggregate of about $12.4 million before transaction costs (per Dycom's fiscal 2002 Form 10-K acquisitions note). approximately $12.4 million (about $10.0M cash plus 73,309 shares).

Utility construction contractor acquired in January 2000 for about $18.0 million cash and 247,555 Dycom shares (aggregate ~$25.2 million before transaction costs). approximately $25.2 million (about $18.0M cash plus 247,555 shares).

Small specialty contractor acquired in January 2000 for roughly $2.2 million cash and 30,081 Dycom shares (~$3.0 million aggregate). approximately $3.0 million (about $2.2M cash plus 30,081 shares).

Utah-based contractor acquired March 8, 2000 under an Agreement and Plan of Merger; Dycom issued 2,726,210 shares for all outstanding stock and accounted for the deal as a pooling of interests, so historical results were restated to include NFS.

Specialty contractor acquired in October 2000 for about $3.2 million cash and 13,286 Dycom shares (~$3.8 million aggregate). approximately $3.8 million (about $3.2M cash plus 13,286 shares).

Specialty contractor acquired in December 2000 for about $3.1 million cash and 15,518 Dycom shares (~$3.8 million aggregate). approximately $3.8 million (about $3.1M cash plus 15,518 shares).

One of the larger early acquisitions: Point to Point Communications was acquired in December 2000 for roughly $52.2 million cash and 312,312 Dycom shares, an aggregate of about $65.3 million before transaction costs. approximately $65.3 million (about $52.2M cash plus 312,312 shares).

Specialty contractor acquired in January 2001 for about $9.9 million cash and 76,471 Dycom shares (~$12.5 million aggregate). approximately $12.5 million (about $9.9M cash plus 76,471 shares).

Specialty contractor acquired in April 2001 for about $11.5 million cash and 437,016 Dycom shares (~$17.7 million aggregate). approximately $17.7 million (about $11.5M cash plus 437,016 shares).

Arguss provided infrastructure services to cable and telecommunications companies. Dycom issued about 4,853,031 shares (aggregate ~$85.4 million before transaction costs) for 100% of Arguss's stock and recorded roughly $98.2 million of goodwill; it later paid off about $58.0 million of Arguss bank debt. The deal broadened Dycom's geographic presence within its existing customer base. approximately $85.4 million (all stock, ~4.9 million shares).

Dycom acquired substantially all of First South's assets and assumed certain liabilities in November 2003 for an aggregate ~$55.7 million, including about 175,840 Dycom shares, paid largely from cash on hand. First South provided specialty contracting services to telecommunications customers. approximately $55.7 million (cash plus ~175,840 shares).

UtiliQuest, a provider of underground utility locating services, was acquired in December 2003 for approximately $116.1 million; Dycom initially borrowed $85.0 million under its credit agreement to fund it, then repaid that debt within the same fiscal year. The deal expanded Dycom's locating business, adding roughly 157 master service contracts. approximately $116.1 million.

Dycom acquired certain assets and assumed certain liabilities of RJE Telecom in September 2004 for about $9.8 million cash. RJE provided specialty contracting services primarily to telephone companies. approximately $9.8 million cash.

Dycom acquired the outstanding common stock of Prince Telecom Holdings in December 2005 for approximately $65.4 million including transaction fees. Prince installs and maintains customer-premises equipment such as set-top boxes and cable modems for leading cable multiple-system operators nationwide. (The prompt's '2009' date refers to the later divestiture era; the acquisition itself closed December 2005.). approximately $65.4 million.

Dycom acquired the outstanding common stock of Broadband Installation Services (formerly Cable Express) in September 2006 for approximately $55.2 million including transaction fees, and assumed about $9.2 million of capital lease obligations. Like Prince, it provided specialty contracting services for leading cable multiple-system operators. approximately $55.2 million plus ~$9.2 million assumed capital leases.

Dycom acquired certain assets and assumed certain liabilities of Cavo Communications in March 2007 for about $5.5 million plus roughly $0.9 million of assumed capital leases. Cavo provided specialty contracting services for leading cable multiple-system operators. approximately $5.5 million plus ~$0.9 million assumed capital leases.

Dycom acquired certain assets and assumed certain liabilities of Communication Services, Inc. on November 19, 2010, for about $9.0 million paid from cash on hand plus ~$0.9 million of assumed capital lease obligations. It provided outside-plant construction services to telecom companies in the Southeastern and South Central U.S. approximately $9.0 million plus ~$0.9 million assumed capital leases.

Dycom acquired NeoCom Solutions of Woodstock, Georgia on December 23, 2010, for approximately $27.5 million paid from cash on hand. NeoCom builds, installs, optimizes and maintains wireless communication facilities in the Southeastern U.S., adding wireless capability to Dycom's mix. approximately $27.5 million.

Through subsidiary PBG Acquisition III, LLC, Dycom bought from Quanta Services and Infrasource FI LLC the equity of entities comprising substantially all of Quanta's domestic telecommunications infrastructure services business. Base price was $275.0 million in cash, plus roughly $40.4 million for working capital received above target and about $3.7 million of other items. The acquired operations provide engineering, construction, maintenance and installation to telecom providers and other services to electric and gas utilities across the U.S. $275.0 million cash plus ~$40.4 million working-capital adjustment (about $319 million total).

Acquired in the fourth quarter of fiscal 2013 (Dycom's fiscal year then ended in late July), Sage provides telecommunications construction and project-management services primarily for cable operators in the Western U.S. It was bought together with certain assets of an unnamed tower-construction and maintenance company for a combined ~$11.3 million, net of cash acquired. part of $11.3 million combined (with a tower-construction business).

Dycom acquired TelCom Construction and an affiliate in August 2015 for $48.8 million paid in cash. Based in Clearwater, Minnesota, TelCom provides construction and maintenance services for telecommunications providers throughout the U.S. (The prompt's '2018' date is not supported by the filings; Dycom's 10-K places the acquisition in August 2015.). $48.8 million cash.

Dycom acquired NextGen Telecom Services Group in May 2016 for $5.6 million net of cash acquired. NextGen provides construction and maintenance services for telecommunications providers in the Northeastern U.S.

In July 2016 Dycom acquired certain assets and assumed certain liabilities tied to the wireless network deployment and wireline operations of Goodman Networks for a net cash purchase price of about $100.9 million after a ~$6.6 million working-capital adjustment. The deal expanded Dycom's wireless deployment capability. (The prompt's '2021' date is not supported by the filings; the acquisition closed July 2016.). net cash purchase price of $100.9 million (after a ~$6.6 million working-capital adjustment).

Dycom acquired Texstar Enterprises in March 2017 for $26.1 million net of cash acquired. Texstar provides construction and maintenance services for telecommunications providers in the Southwest and Pacific Northwest U.S., extending Dycom's geographic presence.

In March 2018 Dycom acquired certain assets and assumed certain liabilities of a provider of telecommunications construction and maintenance services in the Midwest and Northeast U.S. for a cash purchase price of $20.9 million, less an adjustment for working capital received below target. Dycom disclosed the deal by description rather than naming the target. cash purchase price of $20.9 million (less a working-capital adjustment).

Dycom acquired Bigham Cable Construction in August 2023 for $131.2 million ($127.0 million fixed purchase price plus $8.3 million of cash acquired, less $4.1 million of indebtedness). Bigham provides construction and maintenance services for telecommunications providers in the Southeastern U.S. $131.2 million ($127.0 million fixed price plus $8.3 million cash acquired, less $4.1 million indebtedness).

During the first quarter of fiscal 2025, Dycom acquired an unnamed telecommunications construction contractor for $16.0 million ($12.8 million purchase price plus $3.2 million of cash acquired). The company provides construction and maintenance services for telecom providers in the Midwestern U.S. $16.0 million ($12.8 million purchase price plus $3.2 million cash acquired).

During the second quarter of fiscal 2025, Dycom acquired an unnamed telecommunications construction contractor located in the northwestern U.S. for a total of $24.5 million ($20.4 million purchase price plus $4.1 million of cash acquired). It provides construction and maintenance services to telecom providers. $24.5 million ($20.4 million purchase price plus $4.1 million cash acquired).

During the third quarter of fiscal 2025, Dycom acquired certain assets and assumed certain liabilities of an unnamed telecommunications construction contractor for a cash purchase price of $150.7 million. The acquired business provides wireless construction services for telecom providers in various states, meaningfully expanding Dycom's wireless footprint.

Dycom's transformational acquisition. On November 18, 2025 it signed a Unit Purchase Agreement with Project Eastern Shore, LLC to buy all units of Power Solutions, LLC, a Bowie, Maryland-based specialty electrical contractor and one of the Mid-Atlantic's largest electrical contractors serving data centers. The deal closed December 23, 2025 at a base price of $1.95 billion (about $1,995.9 million total including adjustments), paid roughly $1.63 billion in cash plus about 1.0 million Dycom shares (1,011,069 shares valued at $351.0 million). Power Solutions provides electrical, energy-management, security and fire-safety systems for data centers and other critical facilities, and its acquisition created Dycom's new Building Systems reportable segment. Financed via an amended and restated credit agreement (revolver raised to $800M, term loan to $1.54B) and a $600M bridge facility. approximately $1,995.9 million total (base price $1.95 billion; ~$1.63 billion cash plus ~1.0 million Dycom shares valued at $351.0 million).

Today's announcement represents a significant milestone for Dycom, reinforcing the Company's position as a leader in the fast-growing digital infrastructure industry. We are excited to officially welcome Power Solutions to the Dycom family and look forward to working together to realize the opportunities ahead.Dan Peyovich — President and Chief Executive Officer, Dycom Industries