Quanta Services Sells Equity Ownership in Howard Energy for Approximately $221 Million

Quanta Services Sells Equity Ownership in Howard Energy for Approximately $221

PR Newswire

HOUSTON, Dec. 9, 2013

HOUSTON, Dec. 9, 2013 /PRNewswire/ --Quanta Services, Inc. (NYSE: PWR) today
announced that its wholly owned subsidiary, Quanta Capital Solutions, Inc.
(Quanta Capital), has successfully closed the sale of all of its equity
ownership interest in Howard Midstream Energy Partners, LLC (Howard Energy)
for approximately $221 million in cash, which will result in a pre-tax gain to
Quanta of approximately $113 million in the fourth quarter of 2013, or
approximately $0.32 per diluted share. The after-tax net proceeds from the
sale are expected to be approximately $175 million. Certain affiliated
investment funds managed by Alinda Capital Partners acquired the interest
previously held by Quanta Capital.

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"This investment demonstrated Quanta's ability to financially support Howard
Energy's strategic growth initiatives while providing engineering and
construction support to its expanding pipeline system," said Jim O'Neil,
president and chief executive officer of Quanta Services. "Mike Howard and his
management team have built an impressive asset portfolio in the Eagle Ford
shale region, and we wish them and their partners continued success. Quanta
continues to pursue opportunities to provide customers similar financial and
operational solutions to achieve their future infrastructure development

Quanta intends to use the proceeds of the transaction to support its ongoing
strategic growth and other corporate initiatives, including acquisitions and
similar investments.

Quanta Capital is a wholly owned subsidiary of Quanta Services. Quanta Capital
sources and structures investments and partnerships for projects and companies
to advance opportunities for Quanta to provide engineering, procurement,
construction and other specialty services in the electric power and oil and
natural gas industries.

Quanta Services is a leading specialized contracting services company,
delivering infrastructure solutions for the electric power and natural gas and
pipeline industries. Quanta's comprehensive services include designing,
installing, repairing and maintaining energy infrastructure. Additionally,
Quanta licenses point-to-point fiber optic telecommunications infrastructure
in certain markets and offers related design, procurement, construction and
maintenance services. With operations throughout North America and in certain
international markets, Quanta has the manpower, resources and expertise to
safely complete projects that are local, regional, national or international
in scope. For more information, visit www.quantaservices.com.

Forward Looking Statements
This press release (and oral statements regarding the subject matter of this
release) contains forward looking statements intended to qualify for the "safe
harbor" from liability established by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include, but are not limited to,
statements relating to: projected gains, net of proceeds or other operating or
financial results; expectations regarding the use of proceeds, strategic
growth initiatives or investment and acquisition opportunities; the scope,
services, term and results of any projects awarded or expected to be awarded
for services to be provided by Quanta; and Quanta's plans and strategies, as
well as statements reflecting expectations, intentions, assumptions or beliefs
about future events, and other statements that do not relate strictly to
historical or current facts. Although Quanta's management believes that the
expectations reflected in such forward-looking statements are reasonable, it
can give no assurance that such expectations will prove to be correct. These
statements can be affected by inaccurate assumptions and by a variety of risks
and uncertainties that are difficult to predict or beyond our control,
including, among others, the effects of industry, economic or political
conditions outside of the control of Quanta; quarterly variations in operating
results; adverse economic and financial conditions, including weakness in the
capital markets; trends and growth opportunities in relevant markets; delays,
reductions in scope or cancellations of anticipated, pending or existing
projects, including as a result of weather, regulatory or environmental
processes, project performance issues, or our customers' capital constraints;
the successful negotiation, execution, performance and completion of
anticipated, pending and existing contracts, including the ability to obtain
awards of projects on which we bid or are otherwise discussing with customers;
the ability to attract skilled labor and retain key personnel and qualified
employees; potential shortage of skilled employees; the ability to generate
internal growth; competition in Quanta's business, including the ability to
effectively compete for new projects and market share; potential failure of
renewable energy initiatives, the economic stimulus package or other existing
or potential legislative actions to result in increased demand for Quanta's
services; liabilities associated with multi-employer pension plans, including
underfunding of liabilities and termination or withdrawal liabilities; the
possibility of increases in the liability associated with Quanta's withdrawal
from a multi-employer pension plan; liabilities for claims that are
self-insured or not insured; the effect of natural gas, natural gas liquids
and oil prices on Quanta's operations and growth opportunities; the future
development of natural resources in shale areas; the inability of customers to
pay for services; the failure to recover on payment claims against project
owners or to obtain adequate compensation for customer-requested change
orders; the ability to realize backlog; risks associated with operating in
international markets, including instability of foreign governments, currency
fluctuations, tax and investment strategies and compliance with the laws of
foreign jurisdictions as well as the U.S. Foreign Corrupt Practices Act and
other applicable anti-bribery and anti-corruption laws; the ability to
successfully identify, complete, integrate and realize synergies from
acquisitions; the potential adverse impact resulting from uncertainty
surrounding acquisitions, including the ability to retain key personnel from
the acquired businesses and the potential increase in risks already existing
in Quanta's operations; the adverse impact of impairments of goodwill and
other intangible asset or investments; growth outpacing our decentralized
management and infrastructure; requirements relating to governmental
regulation and changes thereto; inability to enforce our intellectual property
rights or the obsolescence of such rights; risks related to the implementation
of an information technology solution; the impact of a unionized workforce on
operations, including labor stoppages or interruptions due to strikes or
lockouts; potential liabilities relating to occupational health and safety
matters; our dependence on suppliers, subcontractors and equipment
manufacturers; risks associated with Quanta's fiber optic licensing business,
including regulatory and tax changes and the potential inability to realize a
return on capital investments; beliefs and assumptions about the
collectability of receivables; the cost of borrowing, availability of credit,
fluctuations in the price and volume of Quanta's common stock, debt covenant
compliance, interest rate fluctuations and other factors affecting financing
and investing activities; the ability to access sufficient funding to finance
desired growth and operations; the ability to obtain performance bonds;
potential exposure to environmental liabilities; the ability to continue to
meet the requirements of the Sarbanes-Oxley Act of 2002; rapid technological
and structural changes that could reduce the demand for services; the impact
of increased healthcare costs arising from healthcare reform legislation, and
other risks and uncertainties detailed in Quanta's Annual Report on Form 10-K
for the year ended Dec. 31, 2012 and Quanta's Quarterly Report on Form 10-Q
for the quarters ended Mar. 31, 2013, June 30, 2013 and Sept. 30, 2013 and any
other documents that Quanta files with the Securities and Exchange Commission
(SEC). Should one or more of these risks materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those
expressed or implied in any forward-looking statements. Investors are
cautioned not to place undue reliance on these forward-looking statements,
which are current only as of this date. Quanta does not undertake and
expressly disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. For a discussion of these risks, uncertainties and assumptions,
investors are urged to refer to Quanta's documents filed with the SEC that are
available through the company's website at www.quantaservices.com or through
the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at

Investors - Kip Rupp, CFA       Media – Deborah Buks and Molly
Quanta Services, Inc.     Ward Creative Communications
713-629-7600   713-869-0707

SOURCE Quanta Services, Inc.

Website: http://www.quantaservices.com
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