Valley Electric and Comet Electric Acquired by MYR Group | Industrials M&A Deal

MYR Group has acquired Valley Electric and Comet Electric, electrical contracting businesses in Washington and California, for approximately $328.0 million. Valley Electric, founded in 1982 and headquartered in Everett, Washington, provides full-service electrical contracting for commercial, industrial, transportation heavy civil, and marine markets. Comet Electric, founded in 1976 and based in Chatsworth, California, delivers commercial and industrial electrical contracting across Southern California. The MYR Group acquisitions represent a platform acquisition in electrical contracting aimed at expanding Commercial Industrial segment service offerings and geographic reach, with funding expected via cash on hand and borrowings under its revolving credit facility. The public company acquisition is expected to close on or about July 1, 2026, subject to regulatory approvals and customary closing conditions.