Alliant Energy and Infrastructure & Energy Alternatives enter
into definitive agreement regarding sale of RMT, Inc.
MADISON, Wis. and CHICAGO, Dec. 12,
2012 /PRNewswire/ -- Alliant Energy Corporation (NYSE: LNT)
announced today that it has entered into a definitive
agreement to sell RMT, Inc. (RMT), its renewable energy services
subsidiary, to Infrastructure and Energy Alternatives, LLC
(IEA).
(Logo: http://photos.prnewswire.com/prnh/20020405/LNTLOGO)
"We announced our intent earlier this year to sell the RMT
business because our belief was that RMT would be best served by an
owner whose operations were better aligned with RMT's engineering
and construction business," said Patricia
Kampling, Alliant Energy Chairman, President and CEO. "We
are pleased that we found a partner in IEA that offers a good fit
for RMT and can move the business forward successfully."
IEA is a leading provider of engineering, procurement and
construction services to a variety of markets including renewable
energy and fossil generation across North
America. RMT will become a subsidiary of IEA working
in their renewable energy group along with existing IEA subsidiary
White Construction, Inc. RMT's headquarters will remain in
Madison, Wis.
"This transaction strategically strengthens our customer base
and the services we provide in the renewable energy market," said
Paul Daily, Chief Executive Officer
of IEA. "We will leverage RMT's industry leading engineering
and project development group across all IEA companies and its long
history of safely providing the highest quality construction of
utility-scale clean energy generating facilities and high-voltage
transmission lines in 26 states positions IEA for continued growth
in North American renewable energy and infrastructure services
markets."
UBS Investment Bank advised Alliant Energy on the
transaction. Subject to customary closing conditions, the
acquisition is expected to close in January
2013.
About Alliant Energy Corporation
Alliant
Energy Corporation (NYSE: LNT), headquartered in Madison, Wis., provides regulated electric and
natural gas service to approximately one million electric and
412,000 natural gas customers in more than 1,300 communities across
Iowa, Wisconsin and Minnesota. Alliant Energy's mission is to
deliver the reliable energy and exceptional service customers and
communities count on – safely, efficiently, and responsibly.
Interstate Power and Light Company and Wisconsin Power and Light
Company are Alliant Energy's two public utility subsidiaries. For
more information, visit
www.alliantenergy.com.
About Infrastructure & Energy Alternatives,
LLC
Infrastructure & Energy Alternatives, LLC is
a holding company established to acquire and manage
industry-leading businesses for significant and sustainable growth
opportunities in the energy, water and environmental infrastructure
services markets across North America. For more information,
visit www.iea.net.
About RMT, Inc.
RMT is a leading EPC
contractor specializing in the design and construction of wind and
solar electric energy generating facilities and high-voltage
transmission lines. RMT's experienced construction crew is backed
by in-house engineering and development support professionals.
RMT's EPC renewable energy portfolio includes over 5,000 MW. The
company is headquartered in Madison,
Wisconsin. For more information, visit
www.rmtinc.com.
This press release contains forward-looking statements which can
be identified because they use words such as "expected" and
"plans." These statements are subject to certain risks and
uncertainties including our ability to close the transaction;
general economic and business conditions; and future business
decisions by IEA. Undue reliance should not be placed on
these statements. The forward-looking statements included herein
are made as of the date hereof and Alliant Energy undertakes no
obligation to update publicly such statements to reflect subsequent
events or circumstances.
ANR223-12
SOURCE Alliant Energy Corporation