ConDig (04-Jun-18).  Dallas, Texas-based construction and infrastructure company Primoris Services Corp has completed the acquisition of Houston specialty energy infrastructure contractor Willbros Group Inc.

The deal, which was revealed in March, has an estimated enterprise value of about $100 million and will see Primoris roll out a new division called Willbros utility transmission and distribution. The Willbros Canada division will become part of Primoris’ power, industrial and engineering division, while the Willbros oil and gas segment will be merged into the Primoris pipeline and underground division.

The decision by Primoris to snap up the Willbros Group came just a week after Willbros revealed plans to put itself up for sale and even mulled bankruptcy.

Primoris said it expects the acquisition to strengthen its business and bolster revenues as well as profitability.

“This acquisition marks an exciting new chapter for Primoris. The T&D business provides Primoris with another avenue of growth, the Canadian operating centers expand our services into Western Canada, and the Oil & Gas Facilities business enhances offerings in our existing markets,” said David King, president and chief executive officer of Primoris.

In February, Primoris reported posted net income of $22.5 million for the fourth quarter ended December 31 compared with $14.5 million in the same in 2016.