PayneCrest Electric Acquired by Primoris Services | Industrials M&A Deal

Primoris Services has acquired PayneCrest Electric, a electrical contracting business in Texas, for $422 million. PayneCrest Electric provides electrical installation and related services for industrial and commercial customers, supporting maintenance, upgrades, and new construction projects. Primoris Services acquisitions in electrical contracting expand its footprint in Texas industrials M&A and strengthen capabilities for large-scale electrical work. The platform acquisition is a strategic acquisition by Primoris Services and is positioned to add scale and recurring project demand. The deal was announced and is expected to close following customary conditions and approvals.