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( https://www.mastec.com/ ) INVESTOR NEWS MasTec to Acquire Henkels & McCoy , a Premier Utility Services Provider December 20 , 2021 - One of Largest and Oldest Private Power Transmission & Distribution Providers in the U.S. , in Operation for over 98 years - Acquisition Adds Significant Crew and Equipment Resource Capacity in Growing Utility Services Markets - Long - tenured , Blue Chip Customer Base with Approximately 70 % Recurring MSA Revenue - Complementary Service Footprint Expands MasTec's Geographical and Customer Reach - Strong Cultural Alignment and Experienced Leadership Team CORAL GABLES , Fla . , Dec. 20 , 2021 / PRNewswire / -- MasTec , Inc. ( NYSE : MTZ ) today announced that it has entered into a definitive agreement to acquire Henkels & McCoy Group Inc. ( Henkels ) , one of the largest U.S. private electrical power transmission and distribution utility services firm and the 14th largest U.S. specialty contractor according to the recent 2021 Engineering News - Record ranking . Founded in 1923 , Henkels has been in operation for over 98 years , with approximately $ 1.5 billion in fiscal 2021 revenue primarily with long tenured relationships across a diverse blue chip customer base , with expansive geographic operations across the United States . Jose Mas , MasTec's Chief Executive Officer , commented , " First of all , we look forward to welcoming almost 5,100 Henkels team members to the MasTec family . Henkels ' operating excellence is well known in the industry , and together with MasTec , our expanded resources and footprint will help serve expected significant growth demand in the utility sector . Culture in a services operation is critical , and both Henkels and MasTec have proud traditions as family businesses , with a strong focus on safety and customer service . We believe that Henkels ' expertise , scale and capacity , when combined with our existing operations , will provide a compelling suite of service offerings to support our customers ' needs as they work to transition to renewable energy generation , modernize power grid systems and reduce carbon emissions . "