Boyne Capital has sold McKee Utility Contractors to Mastec Inc for $276 million, marking a successful exit for the private equity firm. The Prague, Oklahoma-based infrastructure services company specializes in large diameter water and wastewater transmission lines, a critical segment of the construction industry.

Boyne partnered with McKee's management in December 2022 to recapitalize the company, setting the stage for this transaction. Shane McKee continues as CEO, leading the family-founded business that has been operating since 1978. The deal represents a significant return for Boyne Capital's investment strategy focused on founder-led businesses.

Derek McDowell, Boyne's managing partner and CEO, praised the McKee family's leadership in a statement, highlighting the company's growth and execution-driven culture. The sale to Mastec, a major infrastructure services provider, positions McKee for continued expansion under new ownership while maintaining its core focus on essential water and wastewater infrastructure projects.