MYR Group

MYR Group

MYR Group was founded in 1891 as The L.E. Myers Company, an electrical contractor that wired the earliest urban streetcar and lighting systems. The firm grew through municipal electrification and later rural grid expansion, eventually combining with Sturgeon Electric under the MYR Group holding structure. Today it operates as a Nasdaq-listed specialty construction company primarily serving electric utilities, commercial developers, and renewable energy producers. The company's core revenue comes from two segments: Transmission & Distribution (T&D) and Commercial & Industrial (C&I). In T&D, crews handle high-voltage overhead and underground line construction, substation work, and storm restoration for investor-owned utilities like Duke Energy and Pacific Gas & Electric, as well as cooperatives and municipalities. The C&I segment focuses on complex electrical installation for large commercial facilities, data centers, and transportation infrastructure. The firm deploys roughly 8,500 employees across its subsidiaries and typically reports annual contract revenues in the range of $3.0–$3.6 billion, making it one of the largest specialized electrical contractors in the United States. Operations span the United States and western Canada, with major field offices in Arizona, Colorado, Illinois, California, and Alberta. Adjacent capabilities include a dedicated clean energy division that performs engineering, procurement, and construction (EPC) for utility-scale solar and battery storage projects. In July 2024, MYR Group completed the acquisition of Houston-based Great Southwestern Construction, adding 300 field staff and deepening its presence in the Texas grid market. The structural differentiator is that MYR Group is not a capital allocator but a boots-on-the-ground constructor in a market where labor scarcity and project backlogs give pricing power to firms with an experienced, union-certified workforce. As interconnection queues for renewables stall on engineering capacity rather than capital availability, MYR Group represents a proxy for energy transition spending that many pure-play asset managers cannot replicate.