Quanta Services Inc. (PWR) recently agreed to acquire privately held Price Gregory Services Inc., a leading natural gas and oil transmission pipeline infrastructure service provider in North America, in a cash and stock transaction valued at about $350 million.

According to the deal Quanta will issue approximately 11.1 million shares of common stock worth $250 million, and will pay nearly $100 million in cash, subject to adjustment, to Price Gregory shareholders.

Price Gregory is a leading energy infrastructure services provider of its kind, specializing in the construction of large diameter transmission pipelines. Building on Quanta’s strength in electric power business, this acquisition strongly positions the company as a leader in the North American energy transmission infrastructure market and will help it to take advantage of the positive long-term outlook for the natural gas industry.

Price Gregory had revenue of more than $1.41 billion and earnings before interest, taxes,

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Quanta Services, Inc. (PWR) signed an agreement to acquire privately-held Price Gregory Services, Inc., an energy infrastructure services provider in North America that specializes in the construction of large diameter transmission pipelines.

This transaction, which is expected to close in the fourth quarter of 2009, is valued at $350 million. Quanta will issue approximately 11.1 million shares of its common stock, valued at $250 million, and will pay approximately $100 million in cash, subject to adjustment, to the stockholders of Price Gregory.

This acquisition further strengthens Quanta's leadership position in the North American electric power transmission industry. The company said that Price Gregory will significantly expand the scale and scope of Quanta's existing natural gas operations and will position it to take advantage of the positive long-term outlook for the natural gas industry.

Quanta expects a substantial increase in revenues and earnings, strong margins, and significant free cash flows with the

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