Quanta buys Connecticut's Phalcon in $1.24B acquisition spree
What's the deal? Quanta ServicesDealroom has a profile for this one. Try Dealroom →, a Houston-based infrastructure company, has acquired Phalcon Ltd.Dealroom has a profile for this one. Try Dealroom →, the Connecticut parent of McPhee ElectricDealroom has a profile for this one. Try Dealroom → and other contractors. Quanta disclosed the deal in its second-quarter earnings report but did not break out financial terms for Phalcon alone.
What does Phalcon do? The company operates under several brands — McPhee Electric, Ravex SystemsDealroom has a profile for this one. Try Dealroom →, Harlan ElectricDealroom has a profile for this one. Try Dealroom →, PowerHawkeDealroom has a profile for this one. Try Dealroom →, and J.E. RichardsDealroom has a profile for this one. Try Dealroom → — serving hospitals, college campuses, and power systems across Connecticut. McPhee has handled electrical work at Hartford Hospital and audiovisual systems at UConn's Toscano Family Ice Forum.
Why the hydrogen angle matters. Subsidiary Ravex Systems has completed over 1 gigawatt of fuel cell installations, making it a notable contractor in a hydrogen market with deep roots in Connecticut.
Part of a wider push. Phalcon is one of four companies Quanta has acquired since April 2026, at a combined upfront cost of about $1.24 billion in cash and stock. The deal aims to strengthen Quanta's electrical services in the Northeast and Mid-Atlantic and expand its data center presence.
By the numbers. Quanta's revenue rose to $9.56 billion from $6.77 billion year-over-year. It lifted its full-year revenue forecast to as much as $39.7 billion, expecting $1.2 billion to $1.4 billion from its newly acquired companies.
What's unclear. Quanta has not disclosed plans for Phalcon's headquarters or workforce.
The signal: Quanta is consolidating regional electrical contractors to broaden its reach into growth markets — data centers and hydrogen fuel cells among them — signalling where infrastructure spending is heading.
Read more: Advance H2
Image credit: Generated with Gemini
