Monday, June 6, 2016

Dycom Pays Goodman Networks $107.5M for Certain Wireless, Wireline Assets

The 47-year-old Palm Beach Gardens operator will get Goodman’s wireless construction services in Texas, Georgia, Southern California and other markets. The new assets are expected to produce revenues ranging from $150 million to $165 million over the next twelve months, the companies said in a joint press release.Goodman expects the transaction to enable the company to shift its strategic focus towards its field services and professional services business segments while continuing to de-leverage and strengthen its financial position. The purchase price of $107.5 million is subject to adjustments for working capital and other specified items. Dycom (NYSE: DY) said it will be financed through a combination of cash on hand and borrowings under the company’s senior secured credit facility.
The companies offered no specifics about what exactly the deal entailed. Dycom is known for its construction, engineering, site locating, fulfillment and program management.  Continue Reading

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