Electrical infrastructure, transportation and building solutions provider Sterling Infrastructure agreed to acquire CEC Facilities Group for $505 million.

Irving, Texas-based CEC is an electrical infrastructure and mechanical contractor. The company specializes in design, installation and maintenance across a range of sectors, including semiconductors, data centers, high-tech manufacturing and commercial. CEC operates from additional locations in Billings, MT; Austin, TX; and Grand Prairie, TX.

Sterling will acquire CEC for $450 million in cash and $55 million in common stock, with an additional earn-out tied to performance through 2029. The deal, unanimously approved by both boards, will add CEC to Sterling’s E-Infrastructure Solutions segment and is expected to close in the third quarter of 2025.

MDM’s 1Q25 M&A Report (store link) 

Sterling expects the CEC acquisition to add $390 to $415 million in revenue and $51 to $54 million in EBITDA for the full year of 2025.  The company added that estimates reflect anticipated share issuance, lower interest income and a 26% tax rate, excluding purchase accounting impacts. Contributions will depend on the deal’s closing, currently expected to provide about five months of impact in 2025.

“We believe that the combination of CEC’s leading mission-critical electrical services and Sterling’s best-in-class site civil infrastructure services will allow us to accelerate project timelines and become even more valuable to our customers,” Sterling CEO Joe Cutillo said in a June 17 news release. “We welcome CEC to our team and believe their strong values, commitment to customers, and entrepreneurial spirit align perfectly with Sterling.”