Quanta Services, Inc.

The towers, wires and pipelines that move electricity and gas across North America need specialists to build and repair them, and Quanta Services is among the biggest. Formed in 1997 from the combination of four contractors and based in Houston, it provides engineering and construction for electric power grids, renewable-energy projects, pipelines and communications networks, and has grown by acquiring hundreds of smaller firms. Its work sits directly in the path of two large trends: the aging power grid that utilities must rebuild and harden, and surging electricity demand from renewables and, more recently, AI data centers. That has translated into a fat backlog of contracted work stretching years out. The business is labor-intensive and tied to utility and infrastructure spending cycles, but the long-term demand for grid construction gives it a durable tailwind.

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