Infrastructure company Black & Veatch has sold its public carrier wireless telecommunications infrastructure business to Ansco & Associates, which is a wholly owned subsidiary of telecom engineering and construction services company Dycom Industries.
According to a Dycom quarterly presentation, the company paid $150 million in cash for Black & Veatch’s employee-owned wireless infrastructure business. That operation provides telecom construction services across a number of states: Colorado, Idaho, Kansas, Missouri, Montana, New Jersey, New York, Utah and Wyoming.
Dycom said in a release that the acquisition “strategically strengthens Dycom’s customer base and expands geographic scope to more broadly address growth opportunities in wireless network modernization, including Open RAN transformation initiatives, and deployment services.”
Dycom expects the Black & Veatch unit to contribute between $250 million to $275 million in contract revenues during its fiscal year 2026, and to add $1 billion to its backlog. In a presentation as part of Dycom’s most recent quarterly results, which were released today, Dycom noted that the B&V business is “currently focused on site acquisition for next year’s construction program” and therefore would have “modest” revenues in the next two quarters.
Black & Veatch said in a release that while it is selling its public carrier wireless business, it will continue to provide wireline and fiber connectivity, private wireless telecom networks and grid modernization solutions that require wireless technology.
In additional details from Dycom’s fiscal second quarter, the company saw its contract revenues increase 15.5% to $1.203 billion. Its top five customers during its fiscal second quarter for 2025 included AT&T, which accounts for 17.5% of contract revenues, or $210.2 million; Lumen, contributing 13.6% of contract revenues, or $163.7 million; Comcast, with 8.8% of contract revenues, or $105.6 million; and Verizon, at 7.1% of contract revenues or $85.3 million.
As part of its earnings presentation, Dycom made note of a number of industry trends, including its observation that “The advent of AI data centers has sparked the highest level of interest in national deployments of high-capacity low latency intercity networks we have seen in the last 25 years … the appetite for massive fiber deployments is irreversible and continues to meaningfully broaden the opportunities for our industry.” It also said that it views macro-economic conditions as “stable,” and that its capital allocation priorities are firstly organic growth, followed by mergers and acquisitions and “opportunistic share repurchases.”
Dycom also noted that during its fiscal second quarter, it acquired another telecom infrastructure construction business for $20.8 million that extended its geographic footprint to Alaska.
