Underground Construction - July 2017 - 13
ity and communications infrastructure segments are very strong, and the
weather has hindered the ability to complete the work in large regions of
the country. Most do not view this as impacting year-end earnings, but
simply creating soft results in the late winter, early spring.
Trading multiples experienced a sharp decline in May as optimism
about the "Trump Bump" began to subside. We do not view this change as
a cause for concern, but rather a return to more normal trading prior to
the election. The federal government may still impact the next three years
with a substantial infrastructure program; however, the path to completing the legislation is less clear as the post-election hope has given way to
political realities.
Interest in the utility and communications infrastructure markets remains very strong. Both Primoris Services and Dycom made investments
in the month of May that had very different drivers. Dycom invested further in its Texas operations to address the need of customers like Verizon
and expand its presence in the San Antonio marketplace. Primoris made
a move into the Southeast to acquire a gas distribution company to take
advantage of the natural gas maintenance and new build occurring in that
region. We also saw a new management group create a company that is
interested in the communications segment. That company, Congruex,,
www.michels.us
Figure 3: UCC Index Companies' Enterprise Value/EBITDA
Announced
Target
Acquirer
Business Description
5/30/2017
Florida Gas Contractors
Primoris Services Corp.
Gas Distribution
5/24/2017
Texstar Enterprises, Inc.
Dycom Industries
Communications
3/01/2017
Alaska Directional, LLC
Bristol Bay Industrial, LLC
Utility and
communications
Figure 4: Recent Deal Activity
has partnered with Crestview Partners to acquire engineering and construction companies focused on the communications and utility sectors.
Congruex seeks to invest $500 million to consolidate communications
and utility companies across the United States.
YOUR STORY IS TOLD
THROUGH THE THINGS WE BUILD.
VISIT US AT MEA & SGA
OPERATIONS CONFERENCES
EXPLORE OUR CAREER
OPPORTUNITIES:
AA/EOE/M/W/Vet/Disability
July 2017 Underground Construction
www.michelscareers.us
ucononline.com
13
http://www.michels.us
http://www.michelscareers.us
http://www.ucononline.com
Underground Construction - July 2017
Table of Contents for the Digital Edition of Underground Construction - July 2017
Underground Construction - July 2017
Contents
Editor’s Log
Newsline
Washington Watch
Pipeline Projects
Utility & Communications Construction Business Update
Annual Dca/aga Joint Workshop Engages New Subjects, Expands Existing Eff Orts
3 Magic Number for Underground Construction, Maintenance
Lnva Repairs Jones Crossing at the Devers Canal
Cdc/who Ebola Guidelines Could Put Sewer Workers at Risk
Selecting the Best Dewatering Pump for the Job
Pipe Slitting Brings Cost, Time, Life-Saving Benefi Ts to Airport
RehabTechnology
Rehab Technology Selection Guide
Rehab Products & News
Business
New Products
Equipment Spotlight
Business Cards
Sales Reps
Calendar of Events
Ad Index
The Last Word
Underground Construction - July 2017 - Underground Construction - July 2017
Underground Construction - July 2017 - IFC
Underground Construction - July 2017 - Contents
Underground Construction - July 2017 - Editor’s Log
Underground Construction - July 2017 - 3
Underground Construction - July 2017 - Newsline
Underground Construction - July 2017 - 5
Underground Construction - July 2017 - 6
Underground Construction - July 2017 - 7
Underground Construction - July 2017 - Washington Watch
Underground Construction - July 2017 - 9
Underground Construction - July 2017 - Pipeline Projects
Underground Construction - July 2017 - 11
Underground Construction - July 2017 - Utility & Communications Construction Business Update
Underground Construction - July 2017 - 13
Underground Construction - July 2017 - Annual Dca/aga Joint Workshop Engages New Subjects, Expands Existing Eff Orts
Underground Construction - July 2017 - 15
Underground Construction - July 2017 - 16
Underground Construction - July 2017 - 17
Underground Construction - July 2017 - 3 Magic Number for Underground Construction, Maintenance
Underground Construction - July 2017 - 19
Underground Construction - July 2017 - 20
Underground Construction - July 2017 - 21
Underground Construction - July 2017 - Lnva Repairs Jones Crossing at the Devers Canal
Underground Construction - July 2017 - 23
Underground Construction - July 2017 - Cdc/who Ebola Guidelines Could Put Sewer Workers at Risk
Underground Construction - July 2017 - 25
Underground Construction - July 2017 - Selecting the Best Dewatering Pump for the Job
Underground Construction - July 2017 - 27
Underground Construction - July 2017 - Pipe Slitting Brings Cost, Time, Life-Saving Benefi Ts to Airport
Underground Construction - July 2017 - 29
Underground Construction - July 2017 - 30
Underground Construction - July 2017 - 31
Underground Construction - July 2017 - RehabTechnology
Underground Construction - July 2017 - 33
Underground Construction - July 2017 - Rehab Technology Selection Guide
Underground Construction - July 2017 - 35
Underground Construction - July 2017 - 36
Underground Construction - July 2017 - 37
Underground Construction - July 2017 - Rehab Products & News
Underground Construction - July 2017 - 39
Underground Construction - July 2017 - Business
Underground Construction - July 2017 - 41
Underground Construction - July 2017 - New Products
Underground Construction - July 2017 - 43
Underground Construction - July 2017 - 44
Underground Construction - July 2017 - 45
Underground Construction - July 2017 - 46
Underground Construction - July 2017 - Equipment Spotlight
Underground Construction - July 2017 - 48
Underground Construction - July 2017 - 49
Underground Construction - July 2017 - 50
Underground Construction - July 2017 - Business Cards
Underground Construction - July 2017 - 52
Underground Construction - July 2017 - 53
Underground Construction - July 2017 - 54
Underground Construction - July 2017 - Ad Index
Underground Construction - July 2017 - The Last Word
Underground Construction - July 2017 - IBC
Underground Construction - July 2017 - BC
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