Dycom Industries, Inc. Completes Acquisition and Restructures Credit Agreement

Dycom Industries, Inc. announced the completion of its acquisition of Power Solutions, LLC on December 23, 2025. The acquisition wasEffected through a Unit Purchase Agreement dated November 18, 2025. As part of the transaction, Dycom paid approximately $1.6 billion in cash and issued 1,011,069 shares of its common stock. The cash portion is subject to post-closing adjustments. Concurrently, Dycom amended and restated its Second Amended and Restated Credit Agreement, establishing a $600 million 364-day senior secured bridge loan facility. The agreement also extended the maturity of the existing senior secured term loan A and revolving credit facilities to December 23, 2030, increased the revolving credit facility to $800 million, and expanded the term loan A facility to $1.54 billion. The amended agreement includes financial covenants related to consolidated net leverage ratio and interest coverage ratio. The company also reported that as of the closing date, the term loan A and bridge facilities were fully drawn to refinance existing debt and fund the acquisition's cash consideration.