Sterling Infrastructure, Inc. ( STRL - Free Report ) has signed a definitive agreement to acquire CEC Facilities Group, LLC, a specialty electrical and mechanical contractor based in Irving, TX. The deal is valued at $505 million, including $450 million in cash and $55 million in Sterling Common Stock. The transaction is expected to close in the third quarter of 2025, after which CEC will join the company's E-Infrastructure Solutions segment. The agreement also includes an earn-out if CEC meets certain operating income targets through Dec. 31, 2029. Shares of this Texas-based E-Infrastructure Solutions, Building Solutions and Transportation Solutions provider gained 5.6% during yesterday's trading session and 1.2% in after-hours trading.