Underground Construction - October 2017 - 47

ALL ROADS

LEAD TO HI-VAC

®

CLEANING PIPES OR SEWERS?

YOU NEED THE AQUATECH COMBO JET/VAC SYSTEM

equity (Figure 2). EBITDA from the index is nearing an all-time high and
year-end expectations are increasing, based on solidifying backlog and
good execution.
Trading multiples year-to-date are down, but in line with historical
pricing (Figure 3). Analyst expectations are high for many index companies and the trend is very favorable for the segment. Tailwinds that
include reliability-driven work, communication demand and increased
capital spend from investor-owned utilities will likely improve pricing.
Interest in the utility and communications infrastructure markets
remains very strong (Figure 4). In addition to the M&A activity below,
Forbes Energy Services, a Canadian power transmission and distribution
company, has filed a shelf registration that could potentially lead to a public offering in the future. Intren completed a successful private placement
of capital to accelerate growth and expand its operations, and MYR Group
completed a share buyback. This typically means that the company
believes its stock is undervalued relative to market pricing.
Figure 4: Recent Deal Activity
Announced

Target

Acquirer

Business Description

9/06/2017

GW Communications

Unitek Global Services

Communications

9/05/2017

Directional Drilling
Services Co

Patterson-UTI Energy

Directional Drilling

8/30/2017

Spectrum Tracer
Services

Pioneer Investment, Inc.

Locating Services

7/26/2017

Gridforce Energy
Management

NAES Corporation

Energy Management
Systems

7/21/2017

Stronghold

Quanta Services

Downstream O&G

7/18/2017

Communications
Specialists, Inc.

Squan Construction

Communications

7/05/2017

Kelly Cable

Peak Utility Services

Communications

ÄÄ27" Hg High Performance Blower
ÄÄMultiple Capacities
ÄÄ360º Top-Loading Boom
ÄÄUp to 150 GPM Water Pump Capacity
Learn more at aquatechinc.com/products/
combination-jetvac-series

HYDRO EXCAVATING?

YOU NEED THE X-VAC X-8 HYDRO EXCAVATOR

ÄÄThe Most Legally Loaded
Hydro Excavator Available
ÄÄ360º Top-Loading Boom
ÄÄ27" Hg Blower
Learn more at x-vac.com/hydro-excavatortrucks/x-8-hydro-excavator-truck

NEED EQUIPMENT FOR BOTH?

YOU NEED THE AQUATECH COMBO HYDRO

ÄÄFull-Capacity Sewer Cleaner
ÄÄFront or Rear Boom Storage Available
ÄÄAvailable with 6, 10, or 15 yd3
Debris Tank Capacity
ÄÄPowerful Hydro Excavator
with 27" Hg Blowers
ÄÄFully Heated Enclosure for
the Water Pump and Hydro Reel
Learn more at aquatechinc.com/
products/combo-hydro
Contact us today so we can discuss your needs and
make sure you purchase the best equipment possible.

Tel: 740.374.2306

October 2017 Underground Construction

x marks the spot
Fax: 740.374.5447
ucononline.com

47

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Underground Construction - October 2017

Table of Contents for the Digital Edition of Underground Construction - October 2017