{"id":698788,"date":"2026-04-02T04:12:24","date_gmt":"2026-04-02T04:12:24","guid":{"rendered":"https:\/\/www.europesays.com\/us\/698788\/"},"modified":"2026-04-02T04:12:24","modified_gmt":"2026-04-02T04:12:24","slug":"dallas-primoris-services-to-acquire-st-louis-based-paynecrest-electric-for-422m-dallas-innovates","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/698788\/","title":{"rendered":"Dallas\u2019 Primoris Services To\u00a0Acquire St.\u00a0Louis-Based PayneCrest Electric for $422M \u00bb Dallas Innovates"},"content":{"rendered":"

\"\"<\/p>\n

Primoris Services Corp. President and CEO Koti Vadlamudi [Composite photo: Sourcee: Primoris Services Corporation\/DI Studio]<\/p>\n

Dallas-based Primoris Services has agreed to acquire PayneCrest Electric in an all-cash deal valued at $422 million to increase the company\u2019s exposure to the high-growth data center services market and to integrate its industrial and renewables businesses with complementary electrical construction capabilities.<\/strong><\/p>\n

Primoris said that it expects the acquisition to contribute between $260 to $280 million of revenue and $28 to $32 million of adjusted EBITDA for 2026. The deal is slated to close in the second quarter of 2026.<\/p>\n

Koti Vadlamudi, president and CEO of Primoris, said the addition of PayneCrest\u2019s \u201chighly skilled workforce, experienced leadership, and strong customer relationships are an excellent strategic and cultural fit for Primoris.\u201d<\/p>\n

\u201cThis extension into electrical construction services presents us with the opportunity to expand our geographic footprint and customer relationships while adding to the range of services we can deploy across our end markets,\u201d he added in a statement.<\/p>\n

Supports industrial, manufacturing, and advanced facilities<\/p>\n

St. Louis-based PayneCrest is a leading electrical construction and services provider supporting industrial, manufacturing, and advanced facilities. The union contractor provides specialized electrical design, construction, and maintenance solutions across various sectors. For more than 70 years, PayneCrest has maintained multi-decade relationships with its customers, demonstrating extensive expertise in advanced electrical infrastructure in growing end markets, Primoris said.<\/p>\n

\u201cJoining Primoris is a tremendous opportunity for our employees and customers,\u201d said PayneCrest CEO Ryan Freeman. \u201cWe look forward to building upon our legacy of delivering safe, high-quality performance on the most challenging projects. Joining our shared strengths with Primoris, we\u2019re providing a catalyst for meaningful growth, enhanced resources and greater support for those we serve.\u201d<\/p>\n

Upon the deal\u2019s completion, Primoris said PayneCrest would join its Energy segment, advancing Primoris\u2019 strategic plan to further integrate its power, industrial, and renewables services offerings.<\/p>\n

More on the deal<\/p>\n

PayneCrest is expected to add to Primoris\u2019 revenue growth, cash flow, and operating income margin targets, Primoris said. For the full year 2026, PayneCrest is estimated to generate total revenue between $350 and $370 million and total adjusted earnings before earnings before interest, tax, depreciation, and amortization (adjusted EBITDA) of $38 to $42 million.<\/p>\n

Don\u2019t miss what\u2019s next. Subscribe\u00a0to\u00a0Dallas\u00a0Innovates.<\/p>\n

Track Dallas-Fort Worth\u2019s business and innovation landscape with our curated news in your inbox Tuesday-Thursday.<\/p>\n

\u00a0<\/p>\n

\tR E A D\u00a0\u00a0 N E X T\t<\/p>\n