Dycom Industries to Acquire Power Solutions, Premier Data Center Electrical Contractor, Positioning the Company for Accelerated Growth in Digital and Data Center Infrastructure Services
Dycom (NYSE: DY) agreed to acquire Power Solutions for $1.95 billion, expanding into data center electrical contracting. Power Solutions brings ~2,800 employees, expected 2025 revenue of ~$1.0 billion, a four‑year CAGR of ~15%, mid‑to‑high‑teens Adjusted EBITDA margins, and a backlog exceeding $1.0 billion. Dycom expects the deal to be immediately accretive to Adjusted EBITDA margin and Adjusted diluted EPS (excluding non‑cash amortization) and to improve free cash flow for the combined company.
Consideration is approximately $293 million in Dycom stock with the remainder in cash funded by cash on hand, a $1.0 billion term loan and a $700 million 364‑day bridge; pro forma net leverage is expected below 3.0x at closing with a path to ~2.0x in 12–18 months. Closing is expected before Dycom’s fiscal year end.
Dycom (NYSE: DY) ha accettato di acquisire Power Solutions per $1.95 miliardi, espandendosi nel contracting elettrico per data center. Power Solutions porta circa 2.800 dipendenti, previsto 2025 revenue di circa $1.0 miliardo, una crescita CAGR di quattro anni di ~15%, margini Adjusted EBITDA nel range medio‑alto e un backlog superiore a $1.0 miliardo. Dycom si aspetta che l'accordo sia immediatamente accretivo al margine Adjusted EBITDA e all'Adjusted diluted EPS (esclusa l'ammortizzazione non in contanti) e di migliorare il free cash flow per la società combinata.
La controparte è circa $293 milioni in azioni Dycom, con il resto in contanti finanziato da cassa disponibile, un prestito a termine da $1.0 miliardo e un bridge da $700 milioni della durata di 364 giorni; il leverage netto pro forma è previsto inferiore a 3.0x al closing con un percorso verso ~2.0x in 12–18 mesi. Il closing è previsto prima della chiusura dell'anno fiscale di Dycom.
Dycom (NYSE: DY) acordó adquirir Power Solutions por $1.95 mil millones, expandiéndose a la contratación eléctrica de centros de datos. Power Solutions aporta ~2,800 empleados, ingresos previstos para 2025 de ~$1.0 mil millones, una CAGR de cuatro años de ~15%, márgenes de EBITDA ajustado en el rango medio‑alto y un backlog superior a $1.0 mil millones. Dycom espera que el acuerdo sea inmediatamente acreedor al margen de EBITDA ajustado y al EPS diluido ajustado (excluida la amortización no en efectivo) y mejore el flujo de caja libre para la empresa combinada.
La contraprestación es aproximadamente $293 millones en acciones de Dycom, con el resto en efectivo financiado por caja disponible, un crédito a plazo de $1.0 mil millones y un puente de $700 millones por 364 días; la deuda neta pro forma se espera por debajo de 3.0x al cierre con un camino hacia ~2.0x en 12-18 meses. El cierre se espera antes del fin del año fiscal de Dycom.
Dycom (NYSE: DY)가 데이터 센터 전기 계약으로 확장하기 위해 Power Solutions를 $1.95 십억에 인수하기로 합의했습니다. Power Solutions는 약 2,800명의 직원, 2025년 매출 약 $1.0 십억, 4년 CAGR 약 ~15%, 중간에서 상위 십대의 조정된 EBITDA 마진, 그리고 $1.0 십억을 웃도는 백로그를 제공합니다. Dycom은 이 거래가 조정 EBITDA 마진과 조정 희석된 EPS(비현금 상각 제외)에 즉시 기여하고, 합병된 회사의 자유 현금 흐름을 개선할 것으로 기대합니다.
대가 지분은 약 $293 백만의 Dycom 주식으로 지급되고, 나머지는 현금으로 지급되며, 현금 보유, $1.0 십억의 기간 대출, 364일 간의 $700 백만 다리 대출로 조달됩니다; 프로 포마 순부채비율은 종결 시 3.0x 미만으로 예상되며 12–18개월 내에 ~2.0x로의 경로를 가집니다. 종결은 Dycom의 회계 연도 말 이전에 예상됩니다.
Dycom (NYSE: DY) a accepté d'acquérir Power Solutions pour $1,95 milliard, s'étendant dans la sous‑traitance électrique des centres de données. Power Solutions apporte ~2 800 employés, un chiffre d'affaires prévu pour 2025 d'environ ~$1,0 milliard, une CAGR sur quatre ans d'environ ~15%, des marges EBITDA ajusté allant du milieu au haut de l'échelle, et un backlog dépassant $1,0 milliard. Dycom s'attend à ce que l'accord soit immédiatement accrédité en ce qui concerne la marge EBITDA ajustée et l'EPS dilué ajusté (hors amortissements non monétaires) et à améliorer le free cash flow pour l'entreprise réunie.
La contrepartie est d'environ $293 millions en actions Dycom, le reste en espèces financé par la trésorerie disponible, un prêt à terme de $1,0 milliard et un pont de $700 millions sur 364 jours; la dette nette pro forma devrait être inférieure à 3,0x à la clôture avec une trajectoire vers ~2,0x en 12-18 mois. La clôture est attendue avant la fin de l'exercice fiscal de Dycom.
Dycom (NYSE: DY) hat zugestimmt, Power Solutions für $1,95 Mrd. zu übernehmen und damit in die elektrische Bauausführung von Rechenzentren zu expandieren. Power Solutions bringt ca. 2.800 Mitarbeiter mit, voraussichtlicher Umsatz 2025 von ca. $1,0 Mrd., eine Vierjahres‑CAGR von ca. ~15%, Margen beim Adjusted EBITDA im mittleren bis oberen Bereich und einen Backlog von mehr als $1,0 Mrd.. Dycom erwartet, dass der Deal sofort zur Erhöhung der Adjusted EBITDA‑Marge und des Adjusted diluted EPS (ohne nicht zahlungswirksame Abschreibungen) beiträgt und den freien Cashflow des kombinierten Unternehmens verbessert.
Der Gegenwert beträgt ca. $293 Millionen in Dycom‑Aktien, der Rest in bar, finanziert durch vorhandene Barmittel, ein Term Loan über $1,0 Mrd. und eine Bridge über $700 Millionen für 364 Tage; die pro forma Nettoschuld wird zum Abschluss voraussichtlich unter 3,0x liegen, mit einem Pfad zu ca. 2,0x in 12–18 Monaten. Der Abschluss wird voraussichtlich vor dem Geschäftsjahresabschluss von Dycom erfolgen.
وافقت Dycom (بورصة نيويورك: DY) على الاستحواذ على Power Solutions مقابل $1.95 مليار، مما يوسع نشاطها في مقاولة الكهرباء لمراكز البيانات. تجلب Power Solutions حوالي 2,800 موظف، وإيرادات متوقعة لعام 2025 بنحو $1.0 مليار، ومعدل نمو مركب لـ4 سنوات يقارب ~15%، وهوامش EBITDA المعدلة في النطاق من المتوسط إلى العالي، وطلبات باكلاج تفوق $1.0 مليار. تتوقع Dycom أن تكون الصفقة مساهمة فوراً في هامش EBITDA المعدل وEPS المخفف المعدل (باستبعاد الإطفاء غير النقدي) وأن تحسن التدفق النقدي الحر للشركة المجمعة.
أما المقابل فسيكون حوالي $293 مليون من أسهم Dycom مع الباقي نقداً ممولاً من النقد المتاح، وقرضًا لأجل قدره $1.0 مليار وجسراً بقيمة $700 مليون لمدة 364 يوماً؛ ومن المتوقع أن تكون الدينات الصافية وفق المعايير المسبقة للإغلاق أقل من 3.0x عند الإغلاق مع مسار نحو ~2.0x في 12–18 شهراً. من المتوقع الإغلاق قبل نهاية السنة المالية لـ Dycom.
- Power Solutions revenue ~$1.0B expected in 2025
- Combined workforce adds 2,800 skilled employees
- Power Solutions CAGR ~15% over past four years
- Backlog exceeds $1.0B
- Transaction projected immediately accretive to Adjusted EBITDA margin and Adjusted diluted EPS
- Total purchase price $1.95B requires large cash financing
- Committed debt includes $1.0B term loan and $700M bridge facility
- Over 90% of Power Solutions revenue concentrated in data center projects
Insights
Acquisition materially expands Dycom into data centers; transaction is presented as immediately accretive and strategically diversifying.
Dycom agreed to acquire Power Solutions for
These facts imply immediate scale in a high-demand vertical and added skilled labor of over 2,800 employees. The buyer expects sustained mid-to-high-teens Adjusted EBITDA margins at Power Solutions and projects the deal will be accretive to Adjusted EBITDA margin, Adjusted diluted EPS, and free cash flow.
Watch integration milestones: closing before the end of the fiscal year, sustained profitability in
Deal financing and stated synergies support an initially positive financial view, conditional on execution of integration and deleveraging plans.
The purchase price combines equity and cash and planned financing includes a committed
Immediate accretion to Adjusted EBITDA margin and Adjusted diluted EPS, and an expected improvement in free cash flow, are stated as transaction outcomes. Those claims rest on sustaining Power Solutions’ reported mid-to-high-teens margins and converting backlog into revenue as forecast for
Monitor three measurable items: realized Adjusted EBITDA margins for the combined company, actual free cash flow versus projection, and progress toward the stated net leverage target by the end of the
- Expands Dycom’s Exposure to Rapidly Growing, Mission-Critical Data Center Demand
- Establishes a Natural Extension Platform for Long-term Growth and Diversification
- Unlocks Significant Opportunity to Scale Power Solutions’ Operations and Further Expand Existing Relationships with Hyperscalers and Other Technology Companies
- Adds Substantial Skilled Labor Capacity, Combining Two Leading Workforces
- Transaction Expected to be Immediately Accretive to Dycom’s Adjusted EBITDA Margin and Adjusted Diluted EPS and is also Projected to Improve Free Cash Flow for the Combined Company
WEST PALM BEACH, Fla., Nov. 19, 2025 (GLOBE NEWSWIRE) -- Dycom Industries, Inc. (NYSE: DY), a leading provider of specialty contracting services to the telecommunications and digital infrastructure industries throughout the United States, today announced it has signed a definitive agreement to acquire Power Solutions, LLC (“Power Solutions”), one of the Mid-Atlantic’s largest electrical contractors serving data centers, for a total consideration which values Power Solutions at
Power Solutions specializes in providing electrical infrastructure solutions for data centers and other critical facilities in the Greater Washington D.C., Maryland, and Virginia area, the world’s largest data center hub. With over 2,800 highly skilled employees, Power Solutions is a leading contractor of choice in the region, with strong customer relationships and a 25-year track record of high-quality execution. Power Solutions’ annual revenue is expected to be approximately
At closing, Power Solutions will continue to operate under its brand within Dycom. Power Solutions’ strong management team is expected to remain in place and the company will maintain its headquarters in Bowie, Maryland.
“This is a milestone acquisition for Dycom that diversifies our business and significantly enhances our potential to generate long-term growth and value creation,” said Dan Peyovich, President and Chief Executive Officer of Dycom. “Power Solutions is a recognized leader and positions us to benefit from continued strong demand for digital infrastructure solutions among hyperscalers and other industry participants. Our customers will benefit from our expanded capabilities to support data center development by combining Dycom’s expertise in fiber and Power Solutions’ leadership in electrical, two of the most critical elements in digital infrastructure.”
“Dycom and Power Solutions share similar cultures with a focus on safety and quality, raising the bar for our customers, and a commitment to people as our greatest asset. Power Solutions’ skilled workforce, exceptional leadership team and deep relationships with top-tier customers are expected to support durable growth. I am excited to work with the team to realize the opportunities in front of us.”
Compelling Strategic Rationale
- Expands Dycom’s Exposure to Rapidly Growing, Mission-Critical Data Center Demand
- Deepens exposure to one of the fastest-growing infrastructure sectors, with over
90% of Power Solutions’ revenue coming from data center projects - Data center infrastructure is poised for significant growth; while traditional non-gen-AI drivers, like cloud migration, are projected to sustain a
16% CAGR on their own, analysts estimate total U.S. demand for data center capacity could grow at20% to25% CAGR through 2030, with gen-AI accounting for the significant acceleration - Strategically positioned in the Greater Washington D.C., Maryland, and Virginia area, which is the world’s largest and fastest-growing data-center region, currently representing
27% of total operational capacity in U.S. markets and forecasted to capture30% of U.S. data center capacity currently under construction and planned - Significantly enhances service offering in and around data centers and campuses
- Deepens exposure to one of the fastest-growing infrastructure sectors, with over
- Establishes a Natural Extension Platform for Long-term Growth and Diversification
- Adds Power Solutions’ leading electrical contracting capabilities, diversifying Dycom’s business and extending its platform for long-term growth
- Enables offering of turnkey capabilities at scale with a best-in-class operator
- Unlocks Significant Opportunity to Scale Power Solutions’ Operations and Further Expand Existing Relationships with Hyperscalers and Other Technology Companies
- Provides opportunity to offer powerful integrated services, enabling significant cross-selling opportunities across digital infrastructure players
- Provides the ability to extend capabilities into additional, targeted high-growth geographic regions and opportunities over time
- Adds Substantial Skilled Labor Capacity, Combining Two Leading Workforces
- Provides self-perform electrical contracting capabilities with a highly skilled workforce of over 2,800 employees
- Extends capacity to execute large and complex projects
Financial Highlights
The transaction is expected to be immediately accretive to Dycom’s Adjusted EBITDA margin and Adjusted Diluted Earnings Per Share, excluding non-cash amortization of intangible assets. It is also projected to improve free cash flow for the combined company.
Transaction Consideration and Financing
The purchase price is
Advisors
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Dycom, and Weil, Gotshal & Manges LLP is serving as its legal advisor. Source One Business Services, LLC is serving as financial advisor to Power Solutions, and Miles & Stockbridge PC is serving as its legal advisor.
Conference Call Information
Dycom management will discuss the transaction and certain forward-looking information on its fiscal 2026 third quarter results conference call today at 9:00 am ET. Interested parties may participate in the question-and-answer session of the conference call by registering at https://register-conf.media-server.com/register/BI9a839022ad944fb09c33dfa69ba71132. Upon registration, participants will receive a dial-in number and unique PIN to access the call. Participants are encouraged to join approximately ten minutes prior to the scheduled start time.
For all other attendees, a live listen-only audio webcast of the call, including an accompanying slide presentation, can be accessed directly at https://edge.media-server.com/mmc/p/uapuurgx/lan/en. A replay of the live webcast and the related materials will be available on the Company’s Investor Center website at https://dycomind.com/investors for approximately 120 days following the event.
About Dycom Industries, Inc.
Dycom is a leading provider of specialty contracting services to the telecommunications infrastructure and utility industries throughout the United States. These services include program management, planning, engineering and design; aerial, underground, and wireless construction; maintenance; and fulfillment services for telecommunications providers. Additionally, Dycom provides underground facility locating services for various utilities, including telecommunications providers, as well as other construction and maintenance services for electric and gas utilities.
About Power Solutions
Power Solutions is a premier electrical contractor in the Mid-Atlantic U.S. region for mission-critical environments. Working in partnership with the country’s largest general contractors, Power Solutions’ workforce builds and maintains electrical systems for data centers as well as hospitals, medical laboratories, telecommunications centers, government and military institutions, and more.
Forward Looking Information
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to the proposed transaction by the Company of Power Solutions, statements about the potential benefits of the proposed transaction, and the anticipated timing of closing of the proposed transaction. Forward-looking statements are based on management’s expectations, estimates and projections, are made solely as of the date these statements are made, and are subject to both known and unknown risks and uncertainties that may cause the actual results and occurrences discussed in these forward-looking statements to differ materially from those referenced or implied in the forward-looking statements contained in this press release. The most significant of these known risks and uncertainties are described in the Company’s Form 10-K, Form 10-Q, and Form 8-K reports (including all amendments to those reports) and include future economic conditions and trends including the potential impacts of an inflationary economic environment, changes in government policies and laws affecting our business, including related to funding for infrastructure projects and tariff policies or changes to tax laws, changes to customer capital budgets and spending priorities, the availability and cost of materials, equipment and labor necessary to perform our work, the adequacy of the Company’s insurance and other reserves and allowances for credit losses, whether the carrying value of the Company’s assets may be impaired, the future impact of any acquisitions or dispositions, adjustments and cancellations of the Company’s projects, the impact to the Company’s backlog from project cancellations or postponements, the impacts of pandemics and public health emergencies, the impact of varying climate and weather conditions, the anticipated outcome of other contingent events, including litigation or regulatory actions involving the Company, potential liabilities or other adverse effects arising from occupational health, safety, and other regulatory matters, the adequacy of our liquidity, the availability of financing to address our financials needs, the Company’s ability to generate sufficient cash to service its indebtedness, the impact of restrictions imposed by the Company’s credit agreement, and other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission. Risks and uncertainties relating to the Power Solutions transaction include, but are not limited to, risks associated with transactions generally, such as the inability to obtain, or delays in obtaining, any required regulatory approvals or other consents; the failure to consummate or delay in consummating the proposed transaction for other reasons; the risk that a condition to closing of the proposed transaction may not be satisfied; the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement; the outcome of any legal proceedings that may be instituted following announcement of the proposed transaction; failure to retain key management and employees of Power Solutions; unfavorable reaction to the proposed transaction by customers, competitors, suppliers and employees; risks that the proposed transaction disrupts current plans and operations of the Company and Power Solutions; the ability to identify and recognize the anticipated benefits of the proposed transaction, expectations and synergies; the amount of the costs, fees, expenses and charges related to the proposed transaction; and the ability of the Company and Power Solutions to successfully integrate their businesses and related operations. Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update its forward-looking statements.
For more information, contact:
Callie Tomasso, Vice President Investor Relations & Corporate Communications
Email: investorrelations@dycomind.com
Phone: (561) 627-7171
FAQ
What is Dycom (DY) acquiring and for how much?
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How will Dycom (DY) fund the $1.95B acquisition announced on November 19, 2025?
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