Prospect Capital Agrees to Sell Valley Electric to MYR Group for $328 Million

Corporate Action
โดย Insider Monkey·Read original
Summary · why it matters

Prospect Capital Corporation has agreed to sell its portfolio company Valley Electric Company to specialty contractor MYR Group for approximately $328 million. The transaction is expected to close around July 1, 2026, and Prospect anticipates net exit proceeds of roughly $280 million after adjustments and earn-out payments. Combined with prior returns from interest, dividends, and other cash flows since the original 2012 investment, the total outcome represents a 20.4% annualized return and nearly five times the original capital invested. Valley Electric, founded in 1982, provides electrical contracting services for critical infrastructure and saw its revenues grow by 289% during Prospect's 14-year ownership.

Impact on stocks 2

Financials▲ · 1 stocks
Prospect Capital Corporation
PSEC
▲ PositiveCapitalrelevance

Prospect Capital sells Valley Electric for $328M, realizing a 20.4% annualized return and nearly 5x original investment.

Energy Transition & Power Demand▲ · 1 stocks
MYR Group Inc
MYRG
▲ PositiveCapitalrelevance

MYR Group acquires Valley Electric for $328M, expanding its electrical contracting business.

Off-coverage companies 1

Valley Electric CompanyPrivate± Mixed
relevance

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