Underground Construction - October 2021 - 12

Daniel Shumate | Managing Director, FMI Capital Advisors Inc.
Utility & Communications
Construction Update
10
8
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-2
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2011
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2015
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FIGURE 1: 12 Month Percentage Change of Producer Price Index, Not Seasonally Adjusted.
Source: Bureau of Labor Statistics
38
33
28
23
18
13
8
3
-2
-7
1/14/21
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FIGURE 2: YTD UCC Index. Source: FMI Research, S&P Capital IQ; as of September 27, 2021
FIGURE 4: Recent Deal Activity
Announced
June 2021
Target
Riggs Distler
July 2021
July 2021
Aug 2021
Aug 2021
Sep 2021
Sep 2021
Excel Utility Contractors
Allied Underground
Kane Communications
Young's Communications
Blattner Energy
Dakota Utility Contractors
12 OCTOBER 2021 | UCONonline.com
9/15/21
S&P 500
UCC Index
Jan.
2021
July
2021
Working in the competitive bid-based
underground construction segment
often means juggling bits of information
to make the most informed choices.
The volume of information impacting
the decisions of contractors has only
increased in a challenging political
and economic environment. Publicly
traded companies of the Utility &
Communications Construction Index
( " UCCI " ) have performed very well
due to the volume of infrastructure
spending and expectations for the
infrastructure bill.
The $1 trillion infrastructure bill
passed by the Senate in July 2021 will
reach large metropolitan centers and
rural communities alike, with earmarks
for roads and bridges ($110 billion),
passenger and freight rail ($66 billion),
broadband ($65 billion), electric and
power infrastructure ($73 billion)
and environmental remediation ($21
billion)1
. While there will be a lot of
competition bidding on these projects,
contractors who understand the
dynamics of their regional markets will
Acquirer
Centuri Group
Brightwood Capital
Altos Partners
Business Description
Power T&D
Communication, gas and water utility construction
Underground civil
Aterian Investment Partners Communication infrastructure
Grain Management
Quanta Services
Owner Buyback
Communication infrastructure
Renewable infrastructure
Underground construction
%
%

http://www.UCONonline.com

Underground Construction - October 2021

Table of Contents for the Digital Edition of Underground Construction - October 2021

Contents
Underground Construction - October 2021 - Cover1
Underground Construction - October 2021 - Cover2
Underground Construction - October 2021 - Contents
Underground Construction - October 2021 - 4
Underground Construction - October 2021 - 5
Underground Construction - October 2021 - 6
Underground Construction - October 2021 - 7
Underground Construction - October 2021 - 8
Underground Construction - October 2021 - 9
Underground Construction - October 2021 - 10
Underground Construction - October 2021 - 11
Underground Construction - October 2021 - 12
Underground Construction - October 2021 - 13
Underground Construction - October 2021 - 14
Underground Construction - October 2021 - 15
Underground Construction - October 2021 - 16
Underground Construction - October 2021 - 17
Underground Construction - October 2021 - 18
Underground Construction - October 2021 - 19
Underground Construction - October 2021 - 20
Underground Construction - October 2021 - 21
Underground Construction - October 2021 - 22
Underground Construction - October 2021 - 23
Underground Construction - October 2021 - 24
Underground Construction - October 2021 - 25
Underground Construction - October 2021 - 26
Underground Construction - October 2021 - 27
Underground Construction - October 2021 - 28
Underground Construction - October 2021 - 29
Underground Construction - October 2021 - 30
Underground Construction - October 2021 - 31
Underground Construction - October 2021 - 32
Underground Construction - October 2021 - 33
Underground Construction - October 2021 - 34
Underground Construction - October 2021 - 35
Underground Construction - October 2021 - 36
Underground Construction - October 2021 - 37
Underground Construction - October 2021 - 38
Underground Construction - October 2021 - 39
Underground Construction - October 2021 - 40
Underground Construction - October 2021 - 41
Underground Construction - October 2021 - 42
Underground Construction - October 2021 - 43
Underground Construction - October 2021 - 44
Underground Construction - October 2021 - 45
Underground Construction - October 2021 - 46
Underground Construction - October 2021 - 47
Underground Construction - October 2021 - 48
Underground Construction - October 2021 - 49
Underground Construction - October 2021 - 50
Underground Construction - October 2021 - Cover3
Underground Construction - October 2021 - Cover4
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