Dycom Industries acquires Power Solutions, LLC

Dycom Industries acquired Power Solutions, LLC for 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), a transaction completed in December 2025, structured as cash and stock.

Power Solutions, LLC operates in Building Systems / data-center electrical infrastructure, is based in Greater Washington, D.C. / Bowie, Maryland (Mid-Atlantic U.S.). 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.

Diversifies Dycom beyond telecom into high-growth data-center and critical-facility electrical/building systems. Expected to be immediately accretive to Adjusted EBITDA margin and Adjusted Diluted EPS (excluding non-cash intangible amortization) and to improve free cash flow. Continues to operate under the Power Solutions brand, headquartered in Bowie, Maryland, with its management team retained; forms the new Building Systems segment.

Advisory firms were not disclosed for this transaction.