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
SoftLayer operates a global cloud infrastructure platform built for Internet scale. With a global footprint of data centers and network points of presence, SoftLayer provides infrastructure as a service to leading-edge customers ranging from Web startups to global enterprises. SoftLayer's modular architecture, full-featured API, and sophisticated automation provide unparalleled performance and control. Its flexible unified platform seamlessly spans physical and virtual devices linked via a world...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
SYS-CON Events announced today TechTarget has been named “Media Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. TechTarget is the Web’s leading destination for serious technology buyers researching and making enterprise technology decisions. Its extensive global networ...
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 18th International Cloud Expo, which will take place on June 7–9, 2016, at the Javits Center in New York City, NY, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 18th International CloudExpo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York, and the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
SYS-CON Events announced today that Alert Logic, Inc., the leading provider of Security-as-a-Service solutions for the cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Alert Logic, Inc., provides Security-as-a-Service for on-premises, cloud, and hybrid infrastructures, delivering deep security insight and continuous protection for customers at a lower cost than traditional security solutions. Ful...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss 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). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...