November 4, 2009 (FinancialWire) — MasTec, Inc. (NYSE: MTZ) said it has signed a definitive agreement to acquire Precision Pipeline, LLC for $150 million, subject to certain purchase price adjustments and an earnout.

Eau Claire, Wisconsin-based Precision Pipeline is a natural gas, crude oil and refined products transmission pipeline infrastructure services provider in North America

MasTec said transaction is contingent on financing availability on terms and conditions acceptable to MasTec, and there is no break-up fee if such financing is not available.

Precision specializes in the construction and maintenance of large diameter pipelines. MasTec said the firm’s experience in the long-haul, interstate pipeline industry will complement its existing energy infrastructure service offerings, which include natural gas gathering systems, processing plants and compression stations and mid-stream pipelines.

Coral Gables, Florida-based MasTec is a specialty contractor for communications companies, utilities and governments throughout the United States. The firm has

more than 8,200 employees in 200 locations.

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