Subsequent Events

6 Months Ended

Jun. 30, 2018

12. Subsequent Events

On July 2, 2018, the Company completed the acquisition of substantially all of the assets of Huen Electric, Inc., an electrical contracting firm based in Illinois, Huen Electric New Jersey Inc., an electrical contracting firm based in New Jersey, and Huen New York, Inc., an electrical contracting firm based in New York (collectively, the “Huen Companies”). The Huen Companies will provide a wide range of commercial and industrial electrical construction capabilities under the Company’s C&I segment in Illinois, New Jersey and New York. The total consideration paid was approximately $47.1 million, subject to working capital and net asset adjustments, which was funded through borrowings on the Facility. Additionally, there could also be contingent payments based on the successful achievement of certain performance targets and continued employment of certain key executives of the Huen Companies. The costs associated with these contingent payments will be recognized as compensation expense in the consolidated statements of operations and comprehensive income as earned over the period achievement becomes probable. As this transaction was effective on July 2, 2018, the results of the Huen Companies will be included in the Company’s consolidated financial statements beginning on such date. The Company expects the

Huen Companies’

profits to be material to

MYR Group’s

2018 operating results. Approximately $0.2 million of acquisition-related costs associated with this acquisition were expensed by the Company in the six months ended June 30, 2018.

It is impractical to provide the pro forma results of operations that include the impact of the Huen Companies due to the timing of this acquisition.