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Get filing alertsMasTec draws $1.3B in debt to fund Superior Group electrical contractor acquisition
Filed July 20, 2026 · Period ending July 20, 2026 · ~1 min read
Key Changes
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high
Drew full $700M term loan and $600M from revolving credit facility on July 20, 2026, deploying $1.28B toward Superior Group acquisition consideration and transaction costs, with remainder for working capital.
Item 2.03 — Creation of a Direct Financial Obligation verify on EDGAR → -
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Acquisition consideration includes approximately $105M in acquired cash, meaning net cash outlay was lower than gross financing amount.
Item 2.03 — Creation of a Direct Financial Obligation verify on EDGAR → -
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Combined $1.3B debt drawdown represents substantial leverage increase to fund the electrical contractor acquisition, which closed same day.
Item 2.03 — Creation of a Direct Financial Obligation verify on EDGAR →
Summary
MasTec closed its acquisition of Electrical Specialists, Inc. (d/b/a Superior Group) on July 20, 2026, funding the transaction with $1.3 billion in debt. The company drew the full $700 million available under a new senior unsecured delayed draw term loan and borrowed $600 million from its existing revolving credit facility.
Approximately $1.28 billion of the combined proceeds went toward acquisition consideration (including roughly $105 million in acquired cash on Superior's balance sheet) and transaction fees, with the balance allocated to working capital. The financing represents a material leverage increase for MasTec.
Retail holders should monitor how the company integrates Superior Group's electrical contracting operations and whether the combined entity generates sufficient cash flow to service the new debt load. The acquisition's strategic rationale and expected returns will be key to assessing whether the leverage is justified.
Section-by-Section Diff
Event · Item 2.03 — Creation of a Direct Financial Obligation
Item 2.03 — Creation of a Direct Financial Obligation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On July 20, 2026, the Company borrowed the full $700 million in term loans available under the New Term Loan Agreement to finance a portion of the cash consideration for the Company’s acquisition of Electrical Specialists, Inc., d/b/a the Superior Group (the “Superior Group”) and fees and expenses incurred in connection therewith and related transactions.
MasTec drew the full $700 million available under its new senior unsecured delayed draw term loan agreement. The proceeds funded part of the cash consideration for acquiring the Superior Group, an electrical contractor, plus related transaction fees and expenses.
Added in current filing · verify on EDGAR →
On July 20, 2026, the Company borrowed $600 million under the Credit Facility, approximately $580 million of which was used to finance a portion of the cash consideration (inclusive of approximately $105 million in acquired cash) for the Company’s acquisition of the Superior Group and fees and expenses incurred in connection therewith and related transactions, with the remainder used for other working capital purposes.
MasTec borrowed $600 million under its existing revolving credit facility. Approximately $580 million funded additional acquisition consideration for the Superior Group (including $105 million in acquired cash) and related costs, with the remainder allocated to general working capital needs.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 21, 2026 · How we verify