Corporate, Securities & Tax

Deal is law firm’s latest transaction in the growing data center development industry

Miles & Stockbridge, an Am Law 200 law firm with more than 200 lawyers across Maryland, Washington, D.C., Virginia and New York, advised Power Solutions in its $2 billion sale to Dycom Industries, Inc. (NYSE: DY), a publicly traded leader in specialty contracting services for the telecommunications and digital infrastructure markets.

The transaction was led by corporate principals William M. Davidow, Jr. and Sara L. Reznicek, who led and coordinated a multidisciplinary team that handled all aspects of the deal, including mergers and acquisitions counsel, employment and benefits, tax structuring, financing and Hart-Scott-Rodino filings. The engagement underscores the firm’s ability to serve as trusted counsel on high-value transactions involving public-company buyers and sophisticated counterparties.

“This transaction required seamless coordination across practices and a deep understanding of both the seller’s business and the buyer’s public-company requirements,” said Davidow. “Our team was proud to help Power Solutions achieve a landmark outcome in a competitive and rapidly-evolving industry.”

Power Solutions, based in Bowie, Maryland, is a leading electrical contractor focused on data center construction throughout the Mid-Atlantic region. Dycom is a national provider of specialty contracting services supporting digital infrastructure across the United States. The acquisition strengthens Dycom’s data center platform by combining its fiber expertise with Power Solutions’ established leadership in electrical construction.

The transaction was negotiated and closed on an accelerated timeline, with the deal announced in November and completed in December. Source One Business Services served as financial advisor to Power Solutions. Goldman Sachs acted as financial advisor to Dycom, with Weil, Gotshal & Manges serving as Dycom’s legal counsel.

The deal reflects Miles & Stockbridge’s broader experience advising strategic buyers, founder-owned businesses, private equity sponsors and their financial advisors on complex transactions in the data center and digital infrastructure space.

The firm has advised on land use and development matters in Loudoun County, Virginia, home to the world’s largest concentration of data centers, and served as local counsel on more than $975 million in construction financing for Rowan Digital Infrastructure’s data center campus in Frederick, Maryland.

Lawyers across the firm regularly collaborate on matters involving mergers and acquisitions, financing, tax, employment, environmental, zoning and regulatory issues, allowing Miles & Stockbridge to support transactions from initial development through acquisition and integration.

“The pace of consolidation and investment in digital infrastructure continues to accelerate,” said Reznicek. “Our team works closely with buyers, sellers and their advisors to execute transactions efficiently while addressing the full range of legal and business issues that arise in deals of this scale.”

About Miles & Stockbridge

Miles & Stockbridge is an Am Law 200 law firm with more than 200 lawyers and offices in Maryland, Washington, D.C., Virginia and New York. The firm’s lawyers help global, national, local and emerging business clients preserve and create value by helping them solve their most challenging problems. The firm has a highly diversified client base and boasts 13 Chambers-ranked practices, including Corporate M&A. For more information, please visit our website and follow Miles & Stockbridge on LinkedIn, Facebook and X.