Jose Mas, president and CEO of MasTec Inc.
Jose Mas, president and CEO of MasTec Inc. (Bloomberg News)

Represented by Greenberg Traurig, MasTec Inc., a Coral Gables-based infrastructure construction company, has acquired a leading contractor in western Canada for $213 million and a five-year contingent earn out.

The acquisition target, Calgary-based Pacer Construction Holdings Corp. and its affiliated operating companies, is one of the largest infrastructure contractors supporting the oil sands industry with 1,600 employees and over 2,000 pieces of construction equipment.

MasTec acquired all issued and outstanding equity interests for about $126 million cash and $87 million in assumed debt.

Jose Mas, MasTec’s chief executive officer, said, “With its strong and proven management team and a track record of success in Canada’s dynamic energy and mining sectors, we expect Pacer to be an important part of MasTec’s plan to lead the development of energy infrastructure in Canada.”

In addition, MasTec amended its senior secured credit facility on June 25, increasing the aggregate borrowing commitments from $750 million to $1 billion. This increases MasTec’s ability to borrow in alternative currencies—Mexican pesos and Canadian dollars—from $100 million to $200 million.

“The expansion of MasTec’s senior credit facility to $1 billion, coupled with our strong cash flow, provides us with financial flexibility to pursue various strategic growth opportunities across North America,” said George Pita, MasTec chief financial officer.

MasTec was represented by Greenberg Traurig attorneys Ira Rosner, David Barkus and Aaron Slavens of the Miami office.

The law firm also advised MasTec on its $103 million acquisition in May 2013 of Big Country Energy Services Inc. as part of MasTec’s plan to move into Canada’s fragmented energy infrastructure industry. Big Country also is based in Calgary.