backKing & Spalding advised Quanta Services, Inc. on its acquisition of Texas-based Dynamic Systems from FGI Group, Inc. for an upfront purchase price of $1.35 billion, and a potential earnout of up to $216 million. The purchase price was paid in a mix of cash and publicly-traded stock of Quanta.
Quanta is headquartered in Houston, Texas and is a leading specialized contracting services company, that delivers comprehensive infrastructure solutions for the utility, renewable energy, communications, pipeline and energy industries. Quanta's comprehensive services include designing, installing, repairing and maintaining energy and communications infrastructure. Quanta has operations throughout the United States, Canada, Australia and select other international markets.
Dynamic Systems, one of the largest mechanical solutions providers in the country, is a premier, turnkey mechanical, plumbing and process infrastructure solutions provider with a diversified customer base and exposure to the attractive and growing technology, semiconductor, healthcare and other load center markets. The acquisition is consistent with Quanta's key strategies for sustainable success and provides compelling financial contributions and strong cultural fit.
The King & Spalding team was led by Mitch Tiras, Jonathan Newton, Charles McGee, Austin Paalz, Will Carroll, Thomas Hafen and Hannah Grayem – all based in Houston. Additional lawyer support includes Trevor Pinkerton, Rishika Sengupta, Jeff Spigel, Brian Meiners, Adriana Dunn, Jake Downing, Mary Kennedy, Hap Shashy, John Sweet, Michael Bennett, Sydney Lampard, Jesse Pauker, Wes Benter, Michael Nunnally, Igor Gorlach, Sydney Teng, Cynthia Stroman, Kim Cagle, Adam Harper, Alanna Quinn, Jason Seufert and Angela Olchaskey.
For more information, please see Quanta’s press release regarding the transaction.