Welcome!

News Feed Item

Alliant Energy and Infrastructure & Energy Alternatives enter into definitive agreement regarding sale of RMT, Inc.

Transaction expected to close in January 2013

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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
With the introduction of IoT and Smart Living in every aspect of our lives, one question has become relevant: What are the security implications? To answer this, first we have to look and explore the security models of the technologies that IoT is founded upon. In his session at @ThingsExpo, Nevi Kaja, a Research Engineer at Ford Motor Company, will discuss some of the security challenges of the IoT infrastructure and relate how these aspects impact Smart Living. The material will be delivered i...
Historically, some banking activities such as trading have been relying heavily on analytics and cutting edge algorithmic tools. The coming of age of powerful data analytics solutions combined with the development of intelligent algorithms have created new opportunities for financial institutions. In his session at 20th Cloud Expo, Sebastien Meunier, Head of Digital for North America at Chappuis Halder & Co., will discuss how these tools can be leveraged to develop a lasting competitive advanta...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
VeriStor Systems has announced that CRN has named VeriStor to its 2017 Managed Service Provider (MSP) 500 list in the Elite 150 category. This annual list recognizes North American solution providers with cutting-edge approaches to delivering managed services. Their offerings help companies navigate the complex and ever-changing landscape of IT, improve operational efficiencies, and maximize their return on IT investments. In today’s fast-paced business environments, MSPs play an important role...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.