Dycom recently completed its acquisition of Black & Veatch’s public carrier wireless telecom infrastructure business, which gives it more power to address new wireless opportunities across various markets.
The company noted that wireless networks are deploying additional spectrum bands and equipment to provide higher broadband services for both fixed and mobile access more broadly and efficiently.
For its part, Black & Veatch will continue to maintain wireline and fiber connectivity, private wireless telecom networks, and grid modernization solutions that require wireless technology as part of its critical infrastructure portfolio.
Financial terms of the acquisition were not revealed.
According to the company, the acquired business provides wireless construction services primarily in New York, New Jersey, Missouri, Kansas, Colorado, Utah, Wyoming, Idaho and Montana.
Various benefits
This acquisition affords Dycom with various benefits.
Besides strengthening its customer base, the acquisition expands the geographic scope to more broadly address growth opportunities in wireless network modernization, including Open RAN transformation initiatives and deployment services.
For fiscal 2026, Dycom forecasts that the acquired business is expected to contribute $250 million to $275 million of contract revenues.
Dycom said it expects modest revenues in Q3 and Q4 2025 as the business is currently focused on site acquisition for next year’s construction program.
An enhanced backlog
The acquisition will enhance Dycom’s wireless contract backlog.
Steven Nielsen, who will step down as Dycom CEO at the end of November, told investors during Dycom's second quarter 2025 earnings call that “while our review of the acquired backlog is still preliminary, we currently expect this acquisition to add approximately $1.0 billion of total backlog, which we will reflect in our third quarter report.”
He added that the backlog “comes primarily from turfing arrangements in the states we’ve listed in the press release as well as new site builds.”
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