SOLV Energy Expands High-Voltage Infrastructure Capabilities with Acquisition of ASB Energy Services
Key Highlights
- ➤SOLV Energy acquired ASB Energy Services for approximately $45 million.
- ➤Consideration included $36 million cash and $9 million in Class A shares.
- ➤ASB expands SOLV’s self-perform high-voltage construction capabilities.
- ➤ASB strengthens SOLV’s presence in Texas and other high-growth regions.
- ➤ASB will retain its leadership team, operating approach, and customer relationships.
Expert Statements
George Hershman, Chief Executive Officer of SOLV Energy
“This acquisition advances our strategy to build a diversified energy infrastructure services platform capable of supporting customers throughout the power lifecycle.”
George Hershman, Chief Executive Officer of SOLV Energy
“ASB brings proven expertise, a strong safety culture, and an experienced team that complements our existing capabilities and strengthens our ability to deliver critical energy infrastructure for customers across the country.”
George Hershman, Chief Executive Officer of SOLV Energy
“As demand for reliable electricity continues to grow, we believe investments in generation, storage, transmission, and substation infrastructure will remain an important long-term opportunity.”
Dwayne Hoving, Founder and CEO of ASB Energy Services
“Joining SOLV marks an exciting next chapter for our employees and customers.”
Dwayne Hoving, Founder and CEO of ASB Energy Services
“From the beginning, ASB was built around delivering high-quality work, developing our people, and creating long-term value for our customers.”
Dwayne Hoving, Founder and CEO of ASB Energy Services
“By becoming part of SOLV, we gain access to additional resources, broader opportunities, and a shared commitment to safety and execution excellence, while continuing to deliver the level of service our customers have come to expect.”
SAN DIEGO, Nov. 02, 2026 (GLOBE NEWSWIRE) -- SOLV Energy, Inc. (Nasdaq: MWH) (“SOLV”), a leading provider of infrastructure services to the power industry, today announced it has completed the acquisition of ASB Energy Services (“ASB”), a Texas-based contractor specializing in substation foundations, civil construction, and battery energy storage system (BESS) infrastructure.
The acquisition strengthens SOLV's energy infrastructure platform and expands its self-perform high-voltage construction capabilities. SOLV acquired ASB for approximately $45 million, excluding customary closing adjustments, with consideration consisting of $36 million in cash and $9 million in shares of Class A common stock. The transaction broadens SOLV's ecosystem of services, increases its presence in Texas and other high-growth regions, and improves its ability to support customers across the power lifecycle.
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