MasTec completed the acquisition of Infrastructure and Energy Alternatives from Ares Managament for $1.1bn.

MasTec, an American multinational infrastructure engineering and construction company, completed the acquisition of Infrastructure and Energy Alternatives, an infrastructure construction company with specialized energy and heavy civil expertise, from Ares Managament, a private equity firm, for $1.1bn. "We are proud to expand our service capabilities, scale and expertise providing critical infrastructure to support the nation's energy transition to secure and sustainable renewable sources. We are excited to welcome JP, the IEA management team and almost 6k IEA team members to the MasTec family. We have long admired IEA's operating excellence, and we have a strong cultural alignment with IEA in safety and customer service," Jose Mas, MasTec CEO.