Huen: MYR GROUP INC. (NASDAQ:MYRG) Files An 8-K Completion of Acquisition or Disposition of Assets

On July 2, 2018, MYR Group Inc. (the “Company”) completed the acquisition of substantially all of the assets of Huen Electric, Inc., an electrical contracting firm based in Illinois, Huen Electric New Jersey Inc., an electrical contracting firm based in New Jersey, and Huen New York, Inc., an electrical contracting firm based in New York, (collectively, the “Huen Companies”). The Huen Companies will expand our commercial and industrial electrical construction capabilities under the Company’s C&I segment in Illinois, New Jersey and New York. The total consideration paid was approximately $47.1 million, subject to working capital and net asset adjustments. Additionally, there could also be contingent payments based on the successful achievement of certain performance targets.