Quanta Services acquires Valard Construction in US$219 million transaction

On October 25, 2010, Quanta Services, Inc. acquired the Valard Construction group of companies, based in Edmonton, Alberta, in a transaction valued at approximately US$219 million. Quanta Services is a leading specialized contracting services company, delivering infrastructure solutions for the electric power, natural gas and pipeline and telecommunication industries. The acquisition strategically expands Quanta's Canadian service offering and provides Valard's diverse customer base with access to Quanta's extensive energy infrastructure resources. The purchase price for Valard was paid through a combination of cash, Quanta common shares and exchangeable shares of a Canadian subsidiary of Quanta Services. Quanta Services was advised in this acquisition by Fasken Martineau with a team led by Gary Ott, and including, among others, Gary Fogler (exchangeable share structure), Joseph Yang, Grant Foster and Chelsea Bushfield (corporate/securities); Douglas New and Mark Magro (competition); and Frank Schober (tax).