Prospect Capital has agreed to sell Valley Electric to MYR Group in a transaction valued at $328 million, marking another private equity exit in the industrial sector. The deal represents Prospect Capital's continued portfolio management strategy as the firm seeks to realize returns from its investments.

Valley Electric, an electrical services contractor, will transition to MYR Group's ownership as the buyer expands its footprint in the utility infrastructure market. MYR Group, which specializes in electrical and communications construction, gains additional capabilities and geographic reach through this acquisition.

The transaction is expected to close on or about July 1, 2026, giving both parties time to complete regulatory approvals and integration planning. This timeline suggests the deal may require state utility commission clearances or other industry-specific approvals.

The sale reflects ongoing consolidation in the electrical contracting space, where private equity-backed companies are attractive targets for strategic acquirers seeking scale. For investors, the deal demonstrates how PE firms monetize industrial service businesses through strategic sales rather than public market offerings.