MasTec, a leading infrastructure construction company, has acquired telecommunications services firm WesTower for $199 million. WesTower’s operations have experienced significant revenue expansion, growing from approximately $100 million in annual revenues in 2010, to approximately $450 million in projected revenues in 2014. In the transaction, MasTec acquired all of the issued and outstanding equity interests of WesTower for a one-time payment of approximately $199 million in cash, subject to customary purchase price adjustments. At closing, WesTower had approximately $159 million in tangible net worth, comprised mostly of working capital of $151 million, including approximately $18 million in cash. Continue reading here.
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