<SUBMISSION>
<ACCESSION-NUMBER>0000950129-04-004690
<TYPE>424B3
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20040707
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>QUANTA SERVICES INC
<CIK>0001050915
<ASSIGNED-SIC>1731
<IRS-NUMBER>742851603
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>424B3
<ACT>33
<FILE-NUMBER>333-114938
<FILM-NUMBER>04903768
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1360 POST OAK BLVD
<STREET2>SUITE 2100
<CITY>HOUSTON
<STATE>TX
<ZIP>77056
<PHONE>7133506000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1360 POST OAK BLVD SUITE 2100
<CITY>HOUSTON
<STATE>TX
<ZIP>77056
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>h16613b3e424b3.htm
<DESCRIPTION>PROSPECTUS
<TEXT>
<HTML>
<HEAD>
<TITLE>Quanta Services, Inc. - Reg. No. 333-114938</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="right" style="font-size: 10pt">Filed pursuant to Rule&nbsp;424(b)(3)<BR>
Registration No.&nbsp;333-114938



<P align="left" style="font-size: 10pt"><B>PROSPECTUS</B>



<P align="center" style="font-size: 10pt"><B>QUANTA SERVICES, INC.</B>



<P align="center" style="font-size: 10pt"><B>20,000,000 Shares of Common Stock</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus includes 20,000,000 shares of common stock that are
currently outstanding. All of these shares were issued and sold pursuant to
private placements to the selling stockholder listed on page 11 of this
prospectus. We are registering these shares of common stock pursuant to
commitments to register the shares with the selling stockholder.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will not receive any proceeds from the sale of shares of common stock
by the selling stockholder. The selling stockholder may sell the shares at
prices determined by the prevailing market price for the shares or in
negotiated transactions. The selling stockholder may also sell the shares to
or with the assistance of broker-dealers who may receive compensation in excess
of their customary commissions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our common stock is quoted on The New York Stock Exchange under the symbol
&#147;PWR.&#148; On June&nbsp;30, 2004, the last reported sales price of our common stock on
The New York Stock Exchange was $6.22 per share.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will pay the expenses of registering the shares.


<P align="center" style="font-size: 10pt"><B>You should carefully consider the &#147;Risks of Investing in Our Shares&#148; section beginning on page 5 of this prospectus.</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the Securities and Exchange Commission nor any state securities
commission has approved or disapproved of these securities or determined if
this prospectus is truthful or complete. Any representation to the contrary is
a criminal offense.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should only rely on the information incorporated by reference or
provided in this prospectus or any supplement. We have not authorized anyone
else to provide you with different information. You should not assume that the
information in this prospectus or any supplement is accurate as of any date
other than the date on the front of those documents.


<P align="center" style="font-size: 10pt"><B>The date of this prospectus is June&nbsp;30, 2004.</B>



<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<!-- TOC -->
</DIV>
<DIV align="left">
<A name="tocpage"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>TABLE OF CONTENTS</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="92%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#101">Special Note Regarding Forward-Looking Statements
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#102">Summary
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#103">Risks of Investing in Our Shares
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#104">Proceeds From the Sale of Shares
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#105">Selling Stockholder
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">11</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#106">How the Shares May be Distributed
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">13</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#107">Legal Matters
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#108">Experts
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#109">Where You Can Find More Information
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><A href="#110">Incorporation of Certain Documents by Reference
</A></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">15</TD>
    <TD nowrap valign="top">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left">
<!-- /TOC -->
</DIV>
<DIV align="left">
<A name="101"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This prospectus includes statements reflecting assumptions, expectations,
projections, intentions or beliefs about future events that are intended as
&#147;forward-looking statements&#148; under the Private Securities Litigation Reform Act
of 1995. You can identify these statements by the fact that they do not relate
strictly to historical or current facts. They use words such as &#147;anticipate,&#148;
&#147;estimate,&#148; &#147;project,&#148; &#147;forecast,&#148; &#147;may,&#148; &#147;will,&#148; &#147;should,&#148; &#147;could,&#148; &#147;expect,&#148;
&#147;believe&#148; and other words of similar meaning. In particular, these include,
but are not limited to, statements relating to the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>projected operating or financial results;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>expectations regarding capital expenditures;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the effects of competition in our markets;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the duration and extent of the current economic downturn; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our ability to achieve cost savings.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any or all of our forward-looking statements may turn out to be wrong.
They can be affected by inaccurate assumptions and by known or unknown risks
and uncertainties, including the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>quarterly variations in our operating results due to seasonality and adverse weather conditions;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the future possibility of an economic downturn;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our dependence on fixed price contracts;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>materially adverse changes in economic conditions in the markets served by us or by our customers;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>rapid technological and structural changes that could reduce the demand for the services we provide;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our ability to effectively compete for market share;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>cancellation provisions within our contracts;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>potential liabilities relating to occupational health and safety matters;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>retention of key personnel and qualified employees;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the impact of our unionized workforce on our operations and acquisition strategy;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our growth outpacing our infrastructure;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>potential exposure to environmental liabilities;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the cost of borrowing, availability of credit, debt covenant
compliance and other factors affecting our financing activities;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">2
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our ability to generate internal growth;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the adverse impact of goodwill impairments;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>replacement of our contracts as they are completed or expire;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our ability to effectively integrate the operations of our companies;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>beliefs and assumptions about the collectibility of receivables;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>beliefs or assumptions about the outlook for markets we serve; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="6%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the other risks and uncertainties as are described under &#147;Risks
of Investing In Our Shares&#148; and as may be detailed from time to time
in our public filings with the Securities and Exchange Commission
(SEC).</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Many of these factors will be important in determining our actual future
results. Consequently, no forward-looking statement can be guaranteed. Our
actual future results may vary materially from those expressed or implied in
any forward-looking statements.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All of our forward-looking statements, whether written or oral, are
expressly qualified by these cautionary statements and any other cautionary
statements that may accompany such forward-looking statements. In addition, we
disclaim any obligation to update any forward-looking statements to reflect
events or circumstances after the date of this prospectus.


<P align="center" style="font-size: 10pt">3
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#tocpage">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="left">
<A name="102"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>SUMMARY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The following summary provides an overview of selected information about
us. This summary is qualified in its entirety by the more detailed information,
including our consolidated financial statements and related notes thereto,
incorporated by reference in this prospectus. You should carefully consider
this entire prospectus, including the &#147;Risks of Investing In Our Shares&#148;
section, before making an investment decision.</B>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta is a leading provider of specialized contracting services, offering
end-to-end network solutions to the electric power, gas, telecommunications and
cable television industries. Our comprehensive services include designing,
installing, repairing and maintaining network infrastructure. Since Quanta
began operations, we have made strategic acquisitions to expand our geographic
presence, generate operating synergies with existing businesses and develop new
capabilities to meet our customers&#146; evolving needs. For the year ended
December&nbsp;31, 2003, our end markets provided the following percentages of our
revenues:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Electric power and natural gas (60%)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Telecommunications (15%)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Cable television operators (7%)</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Ancillary services, including industrial, commercial and governmental customers (18%)</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our primary services capabilities include the following:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Repair</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Maintenance</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Installation</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Emergency Response</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Design</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Specialty Services</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Within the electric power and natural gas end markets, services we provide
include: installation, repair and maintenance of electric power distribution
networks, electric transmission lines and natural gas distribution systems;
design and construction of substation projects; and storm damage restoration
work. Within the telecommunications and cable television end markets, services
we provide include: fiber optic, copper and coaxial cable installation and
maintenance for video, data and voice transmission; design, construction and
maintenance of DSL networks and switching systems; engineering and erection of
wireless communications towers; and residential installation and customer
connects for cable television, telephone and Internet services.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We were founded in 1997 and began as a group of infrastructure services
companies led by our Chief Executive Officer, John Colson. We completed our
initial public offering in 1998 and since that time have expanded our
geographic coverage and service capabilities through acquisitions and internal
growth. Our operating structure allows for the flexibility of multiple
operating units with the benefit of an organization with scale. Our units are
managed on a decentralized basis, with units operated as individual profit
centers. To leverage our scale and geographic reach, our operating units have
incentives to cross-sell additional services of other operating units to
customers. In addition, our business development group promotes and markets
our services for prospective large national accounts and projects that require
services from multiple business units.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During 2002 and 2003, we took several actions to reduce costs. We
conducted a comprehensive cost evaluation program the scope of which ranged
from equipment utilization to cell phone expenses and has resulted in cost
reductions at our units. In addition, we consolidated various operations where
there were operational or regional synergies. We reduced salary and benefit
costs through staff reductions at several levels of the organization and
increased utilization of hourly employees.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial and economic pressures have led our customers to return to their
core competencies and focus on cost reductions, resulting in an increased focus
on outsourcing services. We believe that we are adequately positioned to
provide these services because of our proven full-service operating units with
broad geographic reach, financial capability and technical expertise.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta is a Delaware corporation and our common stock is traded on The New
York Stock Exchange under the symbol &#147;PWR.&#148; Our principal executive offices
are located at 1360 Post Oak Boulevard, Suite&nbsp;2100, Houston, Texas 77056, and
our telephone number is (713)&nbsp;629-7600. We maintain a website at
www.quantaservices.com. Information on our website does not constitute a part
of this prospectus.


<P align="center" style="font-size: 10pt">4
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<A name="103"></A>
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<P align="center" style="font-size: 10pt"><B>RISKS OF INVESTING IN OUR SHARES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You should consider the following risk factors, in addition to the other
information presented in this prospectus and the documents incorporated by
reference in this prospectus, in evaluating us, our business and an investment
in the common stock. Any of the following risks, as well as other risks and
uncertainties, could seriously harm our business and financial results and
cause the value of the common stock to decline, which in turn could cause you
to lose all or part of your investment.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our operating results may vary significantly from quarter to quarter</I></B><I>. </I>We
experience lower gross and operating margins during winter months due to lower
demand for our services and more difficult operating conditions. Additionally,
our quarterly results may also be materially and adversely affected by:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the timing and volume of work under new agreements;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>regional or general economic conditions;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the budgetary spending patterns of customers;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>payment risk associated with the financial condition of customers;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>variations in the margins of projects performed during any particular quarter;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the termination of existing agreements;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>costs we incur to support growth internally or through acquisitions or otherwise;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>losses experienced in our operations not otherwise covered by insurance;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a change in the demand for our services caused by severe weather conditions;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a change in the mix of our customers, contracts and business;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>increases in construction and design costs;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>changes in bonding and lien requirements applicable to existing and new agreements;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the timing of acquisitions; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the timing and magnitude of acquisition integration costs.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accordingly, our operating results in any particular quarter may not be
indicative of the results that you can expect for any other quarter or for the
entire year.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>An economic downturn may lead to less demand for our services</I></B><I>. </I>If the
general level of economic activity remains slow or deteriorates further, our
customers may delay or cancel new projects. The telecommunications and utility
markets experienced substantial change during 2002 as evidenced by an increased
number of bankruptcies in the telecommunications market, continued devaluation
of many of our customers&#146; debt and equity securities and pricing pressures
resulting from challenges faced by major industry participants. These factors
have contributed to the delay and cancellation of projects and reduction of
capital spending that have impacted our operations and ability to grow at
historical levels. A number of other factors, including financing conditions
for and potential bankruptcies in the industries we serve, could adversely
affect our customers and their ability or willingness to fund capital
expenditures in the future or pay for past services. In addition,
consolidation, competition or capital constraints in the electric power, gas,
telecommunications or cable television industries may result in reduced
spending by, or the loss of, one or more of our customers.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our dependence upon fixed price contracts could adversely affect our
business</I></B><I>. </I>We currently generate, and expect to continue to generate, a portion
of our revenues under fixed price contracts. We must estimate the costs of
completing a particular project to bid for fixed price contracts. The cost of
labor and materials, however, may vary from the costs we originally estimated.
These variations,


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<P align="left" style="font-size: 10pt">along with other risks inherent in performing fixed price contracts, may
cause actual revenue and gross profits for a project to differ from those we
originally estimated and could result in reduced profitability or losses on
projects. Depending upon the size of a particular project, variations from the
estimated contract costs can have a significant impact on our operating results
for any fiscal quarter or year.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our industry is highly competitive</I></B><I>. </I>Our industry is served by numerous
small, owner-operated private companies, a few public companies and several
large regional companies. In addition, relatively few barriers prevent entry
into some of our industries. As a result, any organization that has adequate
financial resources and access to technical expertise may become one of our
competitors. Competition in the industry depends on a number of factors,
including price. Certain of our competitors may have lower overhead cost
structures and may, therefore, be able to provide their services at lower rates
than we are able to provide. In addition, some of our competitors have greater
resources than we do. We cannot be certain that our competitors will not
develop the expertise, experience and resources to provide services that are
superior in both price and quality to our services. Similarly, we cannot be
certain that we will be able to maintain or enhance our competitive position
within our industry or maintain a customer base at current levels. We may also
face competition from the in-house service organizations of our existing or
prospective customers. Electric power, gas, telecommunications and cable
television service providers usually employ personnel who perform some of the
same types of services we do. We cannot be certain that our existing or
prospective customers will continue to outsource services in the future.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We may incur liabilities relating to occupational health and safety
matters</I></B><I>. </I>Our operations are subject to extensive laws and regulations relating
to the maintenance of safe conditions in the workplace. While we have invested,
and will continue to invest, substantial resources in our occupational health
and safety programs, our industry involves a high degree of operational risk
and there can be no assurance that we will avoid significant liability
exposure. Although we have taken what we believe are appropriate precautions,
we have suffered fatalities in the past and may suffer additional fatalities in
the future. Claims for damages to persons, including claims for bodily injury
or loss of life, could result in substantial costs and liabilities.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>The industries we serve are subject to rapid technological and structural
changes that could reduce the demand for the services we provide</I></B><I>. </I>The electric
power, gas, telecommunications and cable television industries are undergoing
rapid change as a result of technological advances that could, in certain
cases, reduce the demand for our services or otherwise negatively impact our
business. New or developing technologies could displace the wireline systems
used for voice, video and data transmissions, and improvements in existing
technology may allow telecommunications and cable television companies to
significantly improve their networks without physically upgrading them.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Failure to obtain or maintain necessary performance bonds could adversely
affect our business</I></B><I>. </I>Contracts in the industries we serve often require
performance bonds or other means of financial assurance to secure contractual
performance. During 2002 and 2003, the market for performance bonds tightened
significantly. If we are unable to obtain performance bonds or letters of
credit in sufficient amounts or on acceptable terms, we might be precluded from
entering into additional contracts with certain of our customers. Management
believes that our current surety arrangements will satisfy all of our bonding
needs for the foreseeable future, but there can be no assurance that such
surety arrangements will be sufficient to satisfy all of our future bonding
needs


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Many of our contracts may be canceled on short notice, and we may be
unsuccessful in replacing our contracts if they are cancelled or as they are
completed or expire</I></B><I>. </I>We could experience a decrease in our revenue, net income
and liquidity if any of the following occur:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our customers cancel a significant number of contracts;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we fail to win a significant number of our existing contracts upon re-bid;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we complete a significant number of non-recurring projects and cannot replace them with similar projects; or</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we fail to reduce operating and overhead expenses consistent with any decrease in our revenue.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">Many of our customers may cancel our contracts on short notice, typically 30-90
days, even if we are not in default under the contract. Certain of our
customers assign work to us on a project-by-project basis under master service
agreements. Under these agreements, our customers often have no obligation to
assign a specific amount of work to us. Our operations could decline
significantly if the anticipated volume of work is not assigned to us. Many of
our contracts, including our master service contracts, are opened to public bid
at the expiration of their terms. There can be no assurance that we will be the
successful bidder on our existing contracts that come up for bid.



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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We are self-insured against potential liabilities</I></B><I>. </I>Although we maintain
insurance policies with respect to automobile, general liability, workers&#146;
compensation and employers&#146; liability, those policies are subject to
deductibles of $1,000,000 to $2,000,000 per occurrence, and we are primarily
self-insured for all claims that do not exceed the amount of the applicable
deductible. We also maintain a non-union employee related health care benefit
plan that is subject to a deductible of $250,000 per claimant per year. Losses
up to the deductible amounts are accrued based upon our estimates of the
ultimate liability for claims incurred and an estimate of claims incurred but
not reported. However, insurance liabilities are difficult to assess and
estimate due to unknown factors, including the severity of an injury, the
determination of our liability in proportion to other parties, the number of
incidents not reported and the effectiveness of our safety program. If we were
to experience insurance claims or costs above our estimates, our business could
be materially and adversely affected.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>The departure of key personnel could disrupt our business</I></B><I>. </I>We depend on
the continued efforts of our executive officers and on senior management of the
businesses we acquire. Although we have entered into employment agreements with
terms of one to three years with most of our executive officers and certain
other key employees, we cannot be certain that any individual will continue in
such capacity for any particular period of time. The loss of key personnel, or
the inability to hire and retain qualified employees, could negatively impact
our ability to manage our business. We do not carry key-person life insurance
on any of our employees.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our unionized workforce could adversely affect our operations and our
ability to complete future acquisitions</I></B><I>. </I>As of December&nbsp;31, 2003,
approximately 43% of our employees were covered by collective bargaining
agreements. Although the majority of these agreements prohibit strikes and work
stoppages, we cannot be certain that strikes or work stoppages will not occur
in the future. Strikes or work stoppages would adversely impact our
relationships with our customers and could cause us to lose business and
decrease our revenue. In addition, our ability to complete future acquisitions
could be adversely affected because of our union status for a variety of
reasons. For instance, our union agreements may be incompatible with the union
agreements of a business we want to acquire and some businesses may not want to
become affiliated with a union based company.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our business is labor intensive, and we may be unable to attract and
retain qualified employees</I></B><I>. </I>Our ability to maintain our productivity and
profitability will be limited by our ability to employ, train and retain
skilled personnel necessary to meet our requirements. We may experience
shortages of qualified journeyman linemen. We cannot be certain that we will be
able to maintain an adequate skilled labor force necessary to operate
efficiently and to support our growth strategy or that our labor expenses will
not increase as a result of a shortage in the supply of these skilled
personnel. Labor shortages or increased labor costs could impair our ability to
maintain our business or grow our revenues.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our business growth could outpace the capability of our corporate
management infrastructure</I></B><I>. </I>We cannot be certain that our infrastructure will
be adequate to support our operations as they expand. Future growth also could
impose significant additional responsibilities on members of our senior
management, including the need to recruit and integrate new senior level
managers and executives. We cannot be certain that we can recruit and retain
such additional managers and executives. To the extent that we are unable to
manage our growth effectively, or are unable to attract and retain additional
qualified management, we may not be able to expand our operations or execute
our business plan.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We could have potential exposure to environmental liabilities</I></B><I>. </I>Our
operations are subject to various environmental laws and regulations, including
those dealing with the handling and disposal of waste products, PCBs, fuel
storage and air quality. As a result of past and future operations at our
facilities, we may be required to incur environmental remediation costs and
other cleanup expenses. In addition, we cannot be certain that we will be able
to identify or be indemnified for all potential environmental liabilities
relating to any acquired business, property or assets.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Opportunities within the government arena could lead to increased
governmental regulation applicable to Quanta and unrecoverable start up costs</I></B><I>.</I>
Most government contracts are awarded through a regulated competitive bidding
process. As we pursue increased opportunities in the government arena
management&#146;s focus associated with the start up and bidding process may be
diverted away from other opportunities. If we were to be successful in being
awarded government contracts, a significant amount of costs could be required
before any revenues were realized from these contracts. In addition, as a
government contractor we would be subject to a number of procurement rules and
other public sector liabilities, any deemed violation of which could lead to
fines or penalties or a loss of business. Government agencies routinely audit
and investigate government contractors. Government agencies may review a
contractor&#146;s performance under its contracts, costs structure, and compliance
with applicable laws, regulations and standards. If government agencies
determine through these audits or reviews that costs were improperly allocated
to specific contracts, they will not reimburse the contractor for those costs
or may require the contractor to refund previously reimbursed costs. Moreover,
our internal controls may not prevent improper conduct. If government agencies
determine that we engaged in improper activity, we may


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<P align="left" style="font-size: 10pt">be subject to civil and criminal penalties. We also could experience
serious harm to our reputation. Many government contracts must be appropriated
each year. If appropriations are not made in subsequent years we would not
realize all of the potential revenues from any awarded contracts.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We may not be successful in meeting the requirements of the Sarbanes-Oxley
Act of 2002</I></B><I>. </I>The Sarbanes-Oxley Act of 2002 has introduced many new
requirements applicable to Quanta regarding corporate governance and financial
reporting. Among many other requirements is the requirement under Section&nbsp;404
of the Act, beginning with the 2004 Annual Report, for management to report on
the Company&#146;s internal controls over financial reporting and for Quanta&#146;s
independent public accountants to attest to this report. During 2003, the
Company commenced actions to ensure its ability to comply with these
requirements, including but not limited to, the engaging of outside experts to
assist in the evaluation of our controls, additional staffing requirements of
our internal audit department and documentation of existing controls. In
addition, the Company expects to continue to devote substantial time and incur
substantial costs during 2004 to ensure compliance. There can be no assurance
that we will be successful in complying with Section&nbsp;404. Failure to do so
could result in the reduced ability to obtain financing, the loss of customers,
penalties and additional expenditures to meet the requirements.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We may not have access in the future to sufficient funding to finance
desired growth</I></B><I>. </I>If we cannot secure additional financing in the future on
acceptable terms, we may be unable to support our growth strategy. We cannot
readily predict the ability of certain customers to pay for past services or
the timing, size and success of our acquisition efforts. Using cash for
acquisitions limits our financial flexibility and makes us more likely to seek
additional capital through future debt or equity financings. Our existing debt
agreements contain significant restrictions on our operational and financial
flexibility, including our ability to incur additional debt, and if we seek
more debt we may have to agree to additional covenants that limit our
operational and financial flexibility. When we seek additional debt or equity
financings, we cannot be certain that additional debt or equity will be
available to us on terms acceptable to us or at all.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We may be unsuccessful at generating internal growth</I></B><I>. </I>Our ability to
generate internal growth will be affected by, among other factors, our ability
to:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>expand the range of services we offer to customers to address their evolving network needs;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>attract new customers;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>increase the number of projects performed for existing customers;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>hire and retain employees; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>open additional facilities.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">In addition, our customers may reduce the number or size of projects available
to us due to their inability to obtain capital or pay for services provided.
Many of the factors affecting our ability to generate internal growth may be
beyond our control, and we cannot be certain that our strategies will be
successful or that we will be able to generate cash flow sufficient to fund our
operations and to support internal growth. If we are unsuccessful, we may not
be able to achieve internal growth, expand our operations or grow our business.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Our results of operations could be adversely affected as a result of
goodwill impairments</I></B><I>. </I>When we acquire a business, we record an asset called
&#147;goodwill&#148; equal to the excess amount we pay for the business, including
liabilities assumed, over the fair value of the tangible and intangible assets
of the business we acquire. Through December&nbsp;31, 2001, pursuant to generally
accepted accounting principles, we amortized this goodwill over its estimated
useful life of 40&nbsp;years following the acquisition, which directly impacted our
earnings. The Financial Accounting Standards Board (FASB)&nbsp;issued Statement of
Financial Accounting Standards (SFAS)&nbsp;No.&nbsp;142 which provides that goodwill and
other intangible assets that have indefinite useful lives not be amortized, but
instead must be tested at least annually for impairment, and intangible assets
that have finite useful lives should continue to be amortized over their useful
lives. SFAS No.&nbsp;142 also provides specific guidance for testing goodwill and
other non-amortized intangible assets for impairment. SFAS No.&nbsp;142 requires
management to make certain estimates and assumptions to allocate goodwill to
reporting units and to determine the fair value of reporting unit net assets
and liabilities, including, among other things, an assessment of market
conditions, projected cash flows, investment rates, cost of capital and growth
rates, which could significantly impact the reported value of goodwill and
other intangible assets. Fair value is determined using a combination of the
discounted cash flow, market


<P align="center" style="font-size: 10pt">8
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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">multiple and market capitalization valuation approaches. Absent any
impairment indicators, we perform our impairment tests annually during the
fourth quarter. Future impairments, if any, will be recognized as operating
expenses.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>We may be unsuccessful at integrating companies that we either have
acquired or that we may acquire in the future</I></B><I>. </I>We cannot be sure that we can
successfully integrate our acquired companies with our existing operations
without substantial costs, delays or other operational or financial problems.
If we do not implement proper overall business controls, our decentralized
operating strategy could result in inconsistent operating and financial
practices at the companies we acquire and our overall profitability could be
adversely affected. Integrating our acquired companies involves a number of
special risks which could have a negative impact on our business, financial
condition and results of operations, including:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>failure of acquired companies to achieve the results we expect;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>diversion of our management&#146;s attention from operational matters;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>difficulties integrating the operations and personnel of acquired companies;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>inability to retain key personnel of the acquired companies;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>risks associated with unanticipated events or liabilities; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>potential disruptions of our business.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">If one of our acquired companies suffers customer dissatisfaction or
performance problems, the reputation of our entire company could suffer.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>First Reserve&#146;s investment in us may result in potential conflicts of
interest with, or dilution of, existing stockholders</I></B><I>. </I>First Reserve Fund IX,
L.P. (First Reserve) owned approximately 33.8% of the outstanding shares of our
common stock as of June&nbsp;30, 2004. First Reserve demanded the registration of
the 20,000,000 shares of common stock registered by this prospectus. After the
offering of all of the shares of common stock represented by this prospectus,
First Reserve will own 16.5% of the outstanding shares of our common stock. By
reason of such stock ownership, conflicts of interest may arise in the future
between us and First Reserve and its affiliates with respect to, among other
things, issuances of additional shares of voting securities or the payment of
dividends. There are no contractual or other restrictions on the ability of
First Reserve or its affiliates to pursue other investment opportunities in any
of the industries we serve. In addition, First Reserve may have interests that
could be in conflict with those of other stockholders.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>You are unlikely to be able to seek remedies against Arthur Andersen LLP,
our former independent auditor</I></B><I>. </I>Our consolidated financial statements for the
fiscal years ended prior to December&nbsp;31, 2002 were audited by Arthur Andersen
LLP, our former independent auditor. In June&nbsp;2002 Arthur Andersen LLP was
convicted of federal obstruction of justice charges in connection with its
destruction of documents. As a result of its conviction, Arthur Andersen LLP
has ceased operations and is no longer in a position to reissue its audit
reports or to provide consent to include financial statements reported on by it
in this prospectus. Because Arthur Andersen LLP has not reissued its reports
and because we are not able to obtain a consent from Arthur Andersen LLP, you
will have no effective remedy against Arthur Andersen LLP in connection with
their role as our independent public accountants for the period covered by its
previously issued reports. Even if you have a basis for asserting a remedy
against, or seeking to recover from, Arthur Andersen LLP, we believe that it is
unlikely that you would be able to recover damages from Arthur Andersen LLP.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><I>Certain provisions of our corporate governing documents could make an
acquisition of our company more difficult</I></B><I>. </I>The following provisions of our
certificate of incorporation and bylaws, as currently in effect, as well as our
stockholder rights plan and Delaware law, could discourage potential proposals
to acquire us, delay or prevent a change in control of us or limit the price
that investors may be willing to pay in the future for shares of our common
stock:


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our certificate of incorporation permits our board of directors to
issue &#147;blank check&#148; preferred stock and to adopt amendments to our
bylaws;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our bylaws contain restrictions regarding the right of stockholders
to nominate directors and to submit proposals to be considered at
stockholder meetings;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">9
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>our certificate of incorporation and bylaws restrict the right of
stockholders to call a special meeting of stockholders and to act by
written consent;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>we are subject to provisions of Delaware law which prohibit us from
engaging in any of a broad range of business transactions with an
&#147;interested stockholder&#148; for a period of three years following the date
such stockholder became classified as an interested stockholder; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>on March&nbsp;8, 2000, we adopted, and have subsequently amended, a
stockholder rights plan that could cause substantial dilution to a
person or group that attempts to acquire us on terms not approved by our
board of directors or permitted by the stockholder rights plan.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">10
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<DIV style="font-family: 'Times New Roman',Times,serif">


<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>

<DIV align="left">
<A name="104"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>PROCEEDS FROM THE SALE OF SHARES</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will receive no proceeds from the sale of any or all of the shares
being offered by the selling stockholder under this prospectus. We estimate we
will spend approximately $77,000 in registering the offered shares.

<DIV align="left">
<A name="105"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>SELLING STOCKHOLDER</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We are registering all 20,000,000 shares of common stock covered by this
prospectus on behalf of the selling stockholder named in the table below. We
issued the shares to the selling stockholder in a private placement. We have
registered the shares to permit the selling stockholder and its respective
pledgees, donees, transferees or other successors-in-interest that receive
their shares from the selling stockholder as a gift, partnership distribution
or other non-sale related transfer after the date of this prospectus to resell
the shares when they deem appropriate.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The table below identifies the selling stockholder and other information
regarding the beneficial ownership of the common stock by the selling
stockholder. The second column lists the number and percentage of shares of
common stock beneficially owned by the selling stockholder as of June&nbsp;30, 2004.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="35%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Ownership of Common</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Ownership of Common</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Stock Before Offering</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number of<BR>Shares Being</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7"><B>Stock After Offering</B><HR size="1" noshade></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center"><B> Selling Stockholder</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percentage</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offered</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Number</B><HR size="1" noshade></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Percentage</B><HR size="1" noshade></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:10px; text-indent:-10px">First Reserve Fund IX, L.P. (1)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">39,038,114 </TD>
    <TD nowrap>(2)</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">33.8% </TD>
    <TD nowrap>(3)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20,000,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">19,038,114</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">16.5</TD>
    <TD nowrap>%(3)</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>First Reserve GP IX, L.P. (GP IX) is the general partner of First Reserve
and may be deemed to beneficially own all of the shares of common stock
owned by First Reserve. First Reserve GP IX, Inc. (GP Inc.), as the
general partner of GP IX, may be deemed to beneficially own all of the shares of common stock owned by First Reserve.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Consists of 38,916,204 shares of common stock held by First Reserve,
45,187 shares of common stock and options to purchase 15,000 shares of
common stock issued to Ben A. Guill in his capacity as a director of
Quanta and 61,723 shares of common stock issued to Thomas J. Sikorski in
his capacity as a director of Quanta. GP Inc. may be deemed to
beneficially own the aforementioned shares and options issued to Ben A.
Guill and Thomas J. Sikorski.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="right">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The percentage above is obtained by using as the denominator 115,663,699 shares of common stock, comprised of 115,648,699 shares of common stock
outstanding as of June&nbsp;30, 2004 and options to purchase 15,000 shares
issued to Ben A. Guill in his capacity as a director of Quanta.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt"><B><I>The First Reserve Securities Purchase Agreement and Investor&#146;s Rights Agreement</I></B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On October&nbsp;15, 2002, we entered into a Securities Purchase Agreement and
an Investor&#146;s Rights Agreement with First Reserve. Under the Securities
Purchase Agreement, on October&nbsp;15, 2002, First Reserve purchased 8,666,666
shares of common stock from Quanta at a purchase price of $3.00 per share. In
addition, First Reserve agreed, subject to certain conditions, to purchase from
Quanta 2,430,741 shares of Series&nbsp;E Preferred Stock. Each share of Series&nbsp;E
Preferred Stock was convertible into ten shares of common stock, at a price per
common stock share equivalent of not less than $3.00 nor more than $3.50,
depending on the average closing price of Quanta&#146;s common stock for a
designated period of time prior to closing. On December&nbsp;20, 2002, First
Reserve purchased approximately 2.4&nbsp;million shares of Series&nbsp;E Preferred Stock
for $30.00 per share, and the shares of Series&nbsp;E Preferred Stock were
converted into approximately 24.3&nbsp;million shares of common stock on December
31, 2002.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the Investor&#146;s Rights Agreement, First Reserve is entitled to (i)
designate up to three directors to Quanta&#146;s board of directors, depending upon
First Reserve&#146;s total ownership in Quanta and certain other conditions, (ii)
three demand registrations with respect to the common stock, (iii)&nbsp;unlimited
&#147;piggyback&#148; registrations, and (iv)&nbsp;a preemptive right to purchase shares of
common stock upon Quanta&#146;s issuance of shares to third parties. First
Reserve&#146;s preemptive right allows it to purchase a proportionate number of
shares of our common stock so that it may maintain the same voting percentage
of our common stock that it had immediately prior to the issuance of our common
stock or securities convertible into common stock to third parties. First
Reserve&#146;s purchase price for each share of our common stock purchased pursuant
to this right equals the closing price per share of our common stock on the
date of


<P align="center" style="font-size: 10pt">11
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="left" style="font-size: 10pt">issuance of the shares of common stock or securities convertible into common
stock to the third party. The Investor&#146;s Rights Agreement also provides that
(i)&nbsp;First Reserve shall not transfer any portion of its shares of our common
stock to any competitor of Quanta, (ii)&nbsp;any transferee of shares constituting
15% or more of the voting securities of Quanta must assume in writing the
obligations of First Reserve under the Investor&#146;s Rights Agreement, and (iii)
any permitted transfer will be exempt from Quanta&#146;s Stockholders&#146; Rights Plan,
provided that any transferee owning more than 5% of the voting securities of
Quanta will not, as a result of the transfer, own more than 37% of the voting
securities of Quanta. The shares offered by this prospectus are being offered
pursuant to First Reserve&#146;s demand registration rights in the Investor&#146;s Rights
Agreement.



<P align="center" style="font-size: 10pt">12
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left">
<A name="106"></A>
</DIV>

<P align="center" style="font-size: 10pt"><B>HOW THE SHARES MAY BE DISTRIBUTED</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The purpose of this prospectus is to permit the selling stockholder or its
assignees or transferees (collectively, the &#147;selling stockholder&#148;) to offer for
sale or to sell the common shares covered by this prospectus at such time and
at such prices as the selling stockholder, in its sole discretion, chooses. We
will not receive any of the proceeds from these offerings or sales.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder may sell or distribute some or all of its shares
from time to time through one or more underwriters, dealers, brokers or other
agents, by acting directly as principal for its own account, or by any other
legally available means, to one or more purchasers in transactions on The New
York Stock Exchange or other exchanges on which our common stock may be listed
for trading, in privately negotiated transactions (including sales pursuant to
pledges), in the over-the-counter market, in brokerage transactions, through
the writing of options, or in a combination of these transactions. These
transactions may include block transactions or crosses. Crosses are
transactions in which the same broker acts as an agent on both sides of the
trade. The obligations of any underwriters or direct purchasers to purchase
the common shares covered by this prospectus may be subject to conditions
precedent specified in a prospectus supplement. Such transactions may be
effected by the selling stockholder at market prices prevailing at the time of
sale, at varying prices determined at the time of sale, at negotiated prices or
at fixed prices, which may be changed.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriters, brokers, dealers, or their agents participating in such
transactions may receive compensation in the form of discounts, concessions, or
commissions from the selling stockholder or, if they act as agent for the
purchaser of the shares, from the purchaser. Such discounts, concessions or
commissions as to a particular broker, dealer or other agent might be in excess
of those customary in the type of transaction involved. Any such underwriters,
brokers, dealers or other agents that participate in such distribution may be
deemed to be &#147;underwriters&#148; within the meaning of the Securities Act. In this
case, any discounts, commissions or concessions received by any such
underwriters, brokers, dealers or other agents might be deemed to be
underwriting discounts and commissions under the Securities Act. The aggregate
proceeds to the selling stockholder from the sale of the common shares covered
by this prospectus will be the sale price of the shares, less any discounts and
commissions.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If applicable law requires, we will (i)&nbsp;provide a supplement to this
prospectus to disclose the specific shares to be sold, the public offering
price of the shares to be sold, the names of any underwriters, brokers, dealers
or agents employed by the selling stockholder in connection with such sale, and
any applicable discounts, concessions or commissions with respect to a
particular transaction, and (ii)&nbsp;file a post-effective amendment to the
registration statement of which this prospectus is a part to include any
material information with respect to the plan of distribution not previously
disclosed in such registration statement or any material change to such
information in the registration statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In connection with the offer and sale of the shares by the selling
stockholder, various state securities laws and regulations require that any
such offer and sale should be made only through the use of a broker-dealer
registered as such in any state where a selling stockholder engages such
broker-dealer and in any state where such broker-dealer intends to offer and
sell shares. In addition, in certain states the shares may not be sold unless
they have been registered or qualified for sale in the applicable state or an
exemption from the registration or qualification requirement is available and
is complied with by us and by the selling stockholder.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Regulation&nbsp;M of the Exchange Act, any person engaged in a
distribution of the common shares offered hereby may not simultaneously engage
in market-making activities with respect to our common shares for up to five
business days prior to the commencement of such distribution. In addition, the
selling stockholder will be subject to restrictions under the Exchange Act,
including Rule&nbsp;10b-5 and Regulation&nbsp;M, which may limit the timing of purchases
and sales of any of the shares by the selling stockholder. All of the
foregoing may affect the marketability of the shares offered hereby.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We will pay all expenses of the registration of the offered securities,
including SEC filing fees, expenses of compliance with state securities or
&#147;blue sky&#148; laws, printing expenses, listing fees, fees and disbursements of our
legal counsel and independent public accountants, fees of the National
Association of Securities Dealers, Inc., transfer taxes, fees of transfer
agents and registrars, costs of insurance and reasonable out-of-pocket
expenses, including, without limitation, all reasonable expenses incurred
directly by the selling stockholder for one legal counsel. The selling
stockholder will pay any underwriting fees, discounts and selling commissions.
The selling stockholder will be indemnified by us against certain civil
liabilities, including certain liabilities under the Securities Act. The
selling stockholder will indemnify us against certain civil liabilities,
including certain liabilities under the Securities Act.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under agreements which may be entered into by the selling stockholder
and/or us in connection with any sale of common shares pursuant to this
prospectus, the underwriters, brokers, dealers or other agents that participate
in the distribution of the common shares may be entitled to (i)&nbsp;indemnification
by the selling stockholder and/or us against some liabilities; including
liabilities under the


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<P align="left" style="font-size: 10pt">Securities Act, or (ii)&nbsp;contribution with respect to payments which the
underwriters, brokers, dealers or agents may be required to make relating to
these liabilities. Any agreement in which the selling stockholder and/or we
agree to indemnify underwriters, brokers, dealers and agents against civil
liabilities will be described in a prospectus supplement.



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If so indicated in a prospectus supplement, the selling stockholder will
authorize dealers or other persons acting as an agent to solicit offers by some
institutions to purchase securities from the selling stockholder pursuant to
contracts providing for payment and delivery on a future date. Institutions
with which these contracts may be made include commercial and savings banks,
insurance companies, pension funds, investment companies, educational and
charitable institutions, and others.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There is at the present time no plan, arrangement or understanding between
the selling stockholder and any underwriter, broker, dealer or agent regarding
the sale of the common shares covered by this prospectus. The selling
stockholder may decide not to sell any of the shares offered by the selling
stockholder pursuant to this prospectus. In addition, we cannot assure you
that the selling stockholder will not transfer, devise or give the common
shares covered by this prospectus to a transferee by means not described in
this prospectus.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The selling stockholder also may resell all, or a portion of its shares in
open market transactions in reliance upon Rule&nbsp;144 under the Securities Act,
provided the selling stockholder meets the criteria and conforms to the
requirements of such rule. Securities covered by this prospectus may also be
sold to non-U.S. persons outside the United States in compliance with
Regulation&nbsp;S under the Securities Act rather than pursuant to this prospectus.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the First Reserve Investor&#146;s Rights Agreement, we are obligated to
keep the registration statement of which this prospectus is a part effective
until the earlier of such time as (i)&nbsp;all of the selling stockholder&#146;s shares
offered hereby have been disposed of in accordance with the intended methods of
disposition set forth above, or (ii)&nbsp;one year after such registration statement
becomes effective (such one-year period being subject to extension at our
discretion).


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<P align="center" style="font-size: 10pt"><B>LEGAL MATTERS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weil, Gotshal &#038; Manges LLP has passed upon the validity of the common
stock offered hereby on behalf of Quanta.

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<P align="center" style="font-size: 10pt"><B>EXPERTS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of Quanta as of and for each of the
two years in the period ended December&nbsp;31, 2003, incorporated in this
prospectus by reference to the Annual Report on Form 10-K for the year ended
December&nbsp;31, 2003, have been so incorporated in reliance on the report of
PricewaterhouseCoopers LLP, independent accountants, given on the authority of
said firm as experts in auditing and accounting.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP&#146;s report refers to the adoption of the
provisions of Statement of Financial Accounting Standards No.&nbsp;142, &#147;Goodwill
and Other Intangible Assets,&#148; and to its audit of the transitional disclosures
for 2001, as more fully described in Note 2 to the financial statements.
However, PricewaterhouseCoopers LLP was not engaged to audit, review or apply
any procedures to the 2001 consolidated financial statements other than with
respect to such disclosures.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of Quanta as of and for the year
ended December&nbsp;31, 2001, from our Annual Report on Form 10-K for the year ended
December&nbsp;31, 2003, incorporated by reference in this prospectus, have been
audited by Arthur Andersen LLP, independent accountants, as stated in their
reports appearing therein, and are incorporated by reference herein in reliance
upon the authority of said firm as experts in auditing and accounting.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have not been able to obtain, after reasonable efforts, the written
consent of Arthur Andersen LLP to our naming it in this prospectus or the shelf
registration statement as having certified our consolidated financial
statements for the period ended December&nbsp;31, 2001, as required by Section&nbsp;7 of
the Securities Act. We have dispensed with the requirement to file its consent
in reliance on the temporary relief provided by the SEC under Rule 437(a) of
the Securities Act. Accordingly, you will not be able to sue Arthur Andersen
LLP pursuant to Section 11(a) of the Securities Act and therefore your right of
recovery under that section will be limited as a result of the lack of consent.
Even if you have a basis for asserting a remedy against, or seeking to recover
from, Arthur Andersen LLP, we believe that it is unlikely that you would be
able to recover damages from Arthur Andersen LLP.

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<P align="center" style="font-size: 10pt"><B>WHERE YOU CAN FIND MORE INFORMATION</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We file annual, quarterly and special reports, proxy statements and other
information with the SEC. You can read and copy any materials we file with the
SEC at its Public Reference Room at 450 Fifth Street, N.W., Washington, D.C.
20549. You can obtain information about the operation of the SEC&#146;s Public
Reference Room by calling the SEC at 1-800-SEC-0330. Copies can be obtained
from the SEC upon payment of the prescribed fees. The SEC also maintains a web
site that contains information we file electronically with the SEC, which you
can access over the Internet at http://www.sec.gov. In addition, you can
obtain information about us at the offices of the New York Stock Exchange at 20
Broad Street, New York, New York 10005.

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<P align="center" style="font-size: 10pt"><B>INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We &#147;incorporate by reference&#148; into this prospectus certain information we
file with the SEC, which means that we can disclose important information to
you by referring you to those documents. The information incorporated by
reference is considered to be part of this prospectus. Any statement made in a
document incorporated by reference in this prospectus is deemed to be modified
or superseded for purposes of this prospectus to the extent that a statement in
this prospectus or in any other subsequently filed document, which is also
incorporated by reference, modifies or supersedes the statement. Any statement
made in this prospectus is deemed to be modified or superseded to the extent a
statement in any subsequently filed document, which is incorporated by
reference in this prospectus, modifies or supersedes such statement. Any
statement so modified or superseded will not be deemed, except as so modified
or superseded, to constitute a part of this prospectus.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We incorporate by reference the filings listed below, which have
previously been filed with the SEC, and any future filings made with the SEC
prior to the termination of this offering under Sections&nbsp;13(a), 13(c), 14, or
15(d) of the Exchange Act (other than current reports furnished under Item&nbsp;9 or
Item&nbsp;12 (or Item&nbsp;2.02 or Item&nbsp;7.01) of Form 8-K unless specifically
incorporated by reference by us). All of these filings, which contain important
information about us, are considered a part of this prospectus.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our annual report on Form 10-K for the year ended December&nbsp;31, 2003, filed on March&nbsp;15, 2004.</TD>
</TR>

</TABLE>

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<P><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Our quarterly report on Form 10-Q for the quarter ended March&nbsp;31, 2004, filed on May&nbsp;10, 2004.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&#149;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of our common stock contained in our registration statement on Form 8-A/A, filed on February&nbsp;6, 1998.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;You may obtain copies of documents incorporated by reference in this
document, without charge, by writing to us at the following address or calling
us at the telephone number listed below:


<P align="center" style="font-size: 10pt">Quanta Services, Inc.<BR>
1360 Post Oak Boulevard, Suite&nbsp;2100<BR>
Houston, Texas 77056<BR>
(713)&nbsp;629-7600<BR>
Attention: Corporate Secretary



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We have filed with the SEC a registration statement on Form S-3 under the
Securities Act covering the shares of common stock to be offered and sold by
this prospectus. This prospectus does not contain all of the information
included in the registration statement, some of which is contained in exhibits
to the registration statement. The registration statement, including the
exhibits, can be read at the SEC web site or at the SEC offices referred to
above. Any statement made or incorporated by reference into this prospectus
concerning the contents of any contract, agreement or other document is only a
summary of the actual contract, agreement or other document. If we have filed
any contract, agreement or other document as an exhibit to the registration
statement, you should read the exhibit for a more complete understanding of the
document or matter involved.



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