Primoris to Acquire PayneCrest Electric for $422M

Primoris Services has agreed to acquire PayneCrest Electric in an all-cash deal valued at $422 million. The St. Louis-based electrical construction and services provider will expand Primoris’ exposure to the high-growth data center services market and add electrical construction capabilities to its industrial and renewables businesses.

Primoris expects the acquisition to contribute between $260 to $280 million of revenue and $28 to $32 million of adjusted EBITDA for 2026. The deal is slated to close in Q2 2026. After completion, PayneCrest will join Primoris’ Energy segment.