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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