Key Takeaways
- • Prospect Capital has agreed to sell Valley Electric to MYR Group for $328 million, with transaction closing expected on or around July 1, 2026.
- • The deal represents a significant exit for Prospect Capital from its Valley Electric investment, transferring ownership of the electrical contracting business to MYR Group.
- • MYR Group, a leading electrical contractor, expands its platform through acquisition of Valley Electric, adding scale and market presence in the electrical services sector.
Summary
Prospect Capital has executed an agreement to divest Valley Electric to MYR Group for $328 million in an all-cash transaction expected to close on or about July 1, 2026. The sale marks a portfolio exit for Prospect Capital and represents a consolidation play within the electrical contracting industry.
Valley Electric, held within Prospect Capital's portfolio, represents an operational asset in the electrical services market. The transaction values the business at $328 million, reflecting market conditions and operational performance at the time of sale. MYR Group's acquisition of Valley Electric strengthens its market position as a leading provider of electrical contracting services, with the combined entity gaining enhanced scale and geographic reach.
The July 1, 2026 closing date provides a defined timeline for transaction completion, subject to customary closing conditions. This deal aligns with broader consolidation trends in the electrical contracting sector, where larger platforms have sought to aggregate smaller, specialized operators to achieve synergies and operational leverage.
Valley Electric, held within Prospect Capital's portfolio, represents an operational asset in the electrical services market. The transaction values the business at $328 million, reflecting market conditions and operational performance at the time of sale. MYR Group's acquisition of Valley Electric strengthens its market position as a leading provider of electrical contracting services, with the combined entity gaining enhanced scale and geographic reach.
The July 1, 2026 closing date provides a defined timeline for transaction completion, subject to customary closing conditions. This deal aligns with broader consolidation trends in the electrical contracting sector, where larger platforms have sought to aggregate smaller, specialized operators to achieve synergies and operational leverage.
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