What Mastec acquisition of Henkels & McCoy means for Linemen
- Jan 5, 2022 11:54 pm GMT
Last month it was announced that Florida-based specialty contractor giant MasTec Inc. has agreed to acquire electrical power transmission and distribution utility services firm Henkels & McCoy in a $600-million deal.
This is following a trend of energy contracting firms working to diversify away from oil and gas services.
“This transaction will double our transmission and distribution resources, expanding our presence in the Northeast markets and the Northwest, where MasTec has traditionally been underrepresented,” said CEO Jose Mas.
“More importantly, we are adding significant additional crew and equipment resource capacity.” MasTec will gain 5,100 employees from Henkels & McCoy
Mastec has historically strong wages and good reviews from lineman as submitted in our annual survey. Henkels and McCoy is a very well run company however in 2020 the company was ordered to provide 362 current and former workers in five states about $1.1 million in back pay and damages for allegedly not paying required overtime wages, according to a lawsuit filed in 2020 by the U.S. Dept.of Labor.
For the growing number of lineman working for Mastec they should be encouraged by increasing wages and a well organized back office and staff.