Clubs and Organizations
July 21, 2017
Houston-based Quanta Services Inc. (NYSE: PWR) on July 20 closed on a deal to acquire La Porte-based Stronghold Ltd. and Stronghold Specialty Ltd., which serves the downstream and midstream energy markets.
Quanta made an initial payment of about $450 million, composed of $360 million in cash and 2.7 million shares of Quanta’s common stock valued at about $90 million. The deal also includes a cash-and-stock