Subsequent Events

12 Months Ended

Dec. 31, 2018

Subsequent Events

Subsequent Events

15. Subsequent Events

In February 2019, we signed a definitive agreement, pending customary closing conditions, to acquire all of the issued and outstanding stock of Walker TX Holding Company, Inc. and each of its wholly-owned subsidiaries (collectively “Walker”). We expect the transaction to close early in the second quarter of 2019. The purchase price consists of $178 million in cash at closing, subject to working capital and certain other post-closing adjustments as set forth in the purchase agreement, and $25 million in a promissory note that is payable in two equal installments of $12.5 million on the third and fourth anniversaries of the closing date, plus an earn out that we will pay if certain financial targets are met after the acquisition date.  Walker is a full-service electrical contracting and network infrastructure engineering business serving commercial and industrial clients with headquarters in Irving, Texas and operations throughout the state of Texas.