Underground Construction - October 2019 - 16
Utility & Communications Construction Update
further this quarter, triggering the first
set of stock buybacks from companies
within the UCCI. This generally means
that management's outlook is greater
for a given company than the market's
current pricing of the stock.
This is typically a good sign for the
health of the underlying industry and
could signal the beginning of a rise in
value for the UCCI companies. Valuation
will be influenced by macroeconomic
factors in the next two quarters as trade
discussions in North America and with
China play out. In addition, the Federal
Reserve has slowed rate increases and
could reverse course, if the economy
slows, to boost market activity.
A major development in the utility and
communications infrastructure space
occurred at the beginning of September,
when a definitive agreement was signed
between J2 Acquisition Limited and
APi Group Inc. for approximately $2.9
billion. The newly formed company is
expected to be listed on the New York
Stock Exchange under the symbol APG.
While it has strong capabilities in life
safety and industrial services, APG
also performs significant utility and
communications construction and will be
a new member of the UCCI companies,
once the listing is finalized.
Also in September, Quanta Services
Inc. acquired The Hallen Construction
Company, based in New York City. One
of Quanta's largest investments in the
Northeast, Hallen will give the Houstonbased company a very strong presence in
the New York gas and civil markets. *
FIGURE 6: Recent Deal Activity
Announced
Target
Acquirer
Business Description
9/9/2019
The Hallen Construction Co.
Quanta Services
Gas transmission and distribution
9/3/2019
APi Group
J2 Acquisition
Industrial services and infrastructure construction
8/2/2019
Das-Co of Idaho
Whitaker Construction
Underground utility and communication construction
7/10/2019
Ryan Electric Construction
Sullivan & McLaughlin
Power T&D
6/15/2019
CSI Electrical Contractors
MYR Group, Inc.
Full-service electrical
16
OCTOBER 2019 | UConOnline.com
https://tuffrod.com/
http://www.UConOnline.com
Underground Construction - October 2019
Table of Contents for the Digital Edition of Underground Construction - October 2019
Contents
Underground Construction - October 2019 - FC
Underground Construction - October 2019 - IFC
Underground Construction - October 2019 - Contents
Underground Construction - October 2019 - 4
Underground Construction - October 2019 - 5
Underground Construction - October 2019 - 6
Underground Construction - October 2019 - 7
Underground Construction - October 2019 - 8
Underground Construction - October 2019 - 9
Underground Construction - October 2019 - 10
Underground Construction - October 2019 - 11
Underground Construction - October 2019 - 12
Underground Construction - October 2019 - 13
Underground Construction - October 2019 - 14
Underground Construction - October 2019 - 15
Underground Construction - October 2019 - 16
Underground Construction - October 2019 - 17
Underground Construction - October 2019 - 18
Underground Construction - October 2019 - 19
Underground Construction - October 2019 - 20
Underground Construction - October 2019 - 21
Underground Construction - October 2019 - 22
Underground Construction - October 2019 - 23
Underground Construction - October 2019 - 24
Underground Construction - October 2019 - 25
Underground Construction - October 2019 - 26
Underground Construction - October 2019 - 27
Underground Construction - October 2019 - 28
Underground Construction - October 2019 - 29
Underground Construction - October 2019 - 30
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Underground Construction - October 2019 - 32
Underground Construction - October 2019 - 33
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Underground Construction - October 2019 - 36
Underground Construction - October 2019 - 37
Underground Construction - October 2019 - 38
Underground Construction - October 2019 - 39
Underground Construction - October 2019 - 40
Underground Construction - October 2019 - 41
Underground Construction - October 2019 - 42
Underground Construction - October 2019 - 43
Underground Construction - October 2019 - 44
Underground Construction - October 2019 - 45
Underground Construction - October 2019 - 46
Underground Construction - October 2019 - 47
Underground Construction - October 2019 - 48
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Underground Construction - October 2019 - 56
Underground Construction - October 2019 - 57
Underground Construction - October 2019 - 58
Underground Construction - October 2019 - IBC
Underground Construction - October 2019 - BC
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