SYS-CON MEDIA Authors: Elizabeth White, Pat Romanski, Carmen Gonzalez, Liz McMillan, Kevin Jackson

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
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile ...
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Companies today struggle to manage the types and volume of data their customers and employees generate and use every day. With billions of requests daily, operational consistency can be elusive. In his session at Big Data Expo, Dave McCrory, CTO at Basho Technologies, will explore how a distributed systems solution, such as NoSQL, can give organizations the consistency and availability necessary to succeed with on-demand data, offering high availability at massive scale.
IoT is still a vague buzzword for many people. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. He also discussed how IoT is perceived by investors and how venture capitalist access this space. Other topics discussed were barriers to success, what is new, what is old, and what th...
Security can create serious friction for DevOps processes. We've come up with an approach to alleviate the friction and provide security value to DevOps teams. In her session at DevOps Summit, Shannon Lietz, Senior Manager of DevSecOps at Intuit, will discuss how DevSecOps got started and how it has evolved. Shannon Lietz has over two decades of experience pursuing next generation security solutions. She is currently the DevSecOps Leader for Intuit where she is responsible for setting and driv...
Dale Kim is the Director of Industry Solutions at MapR. His background includes a variety of technical and management roles at information technology companies. While his experience includes work with relational databases, much of his career pertains to non-relational data in the areas of search, content management, and NoSQL, and includes senior roles in technical marketing, sales engineering, and support engineering. Dale holds an MBA from Santa Clara University, and a BA in Computer Science f...
SYS-CON Events announced today that CodeFutures, a leading supplier of database performance tools, has been named a “Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. CodeFutures is an independent software vendor focused on providing tools that deliver database performance tools that increase productivity during database development and increase database performance and scalability during production.
The Internet of Things (IoT) is rapidly in the process of breaking from its heretofore relatively obscure enterprise applications (such as plant floor control and supply chain management) and going mainstream into the consumer space. More and more creative folks are interconnecting everyday products such as household items, mobile devices, appliances and cars, and unleashing new and imaginative scenarios. We are seeing a lot of excitement around applications in home automation, personal fitness,...
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at @ThingsExpo, Jesse Shiah, CEO / President / Co-Founder of AgilePoint Inc., showed what is needed to leverage the IoT to transform your business. ...
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP ...
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Vormetric on Wednesday announced the results of its 2015 Insider Threat Report (ITR), conducted online on their behalf by Harris Poll and in conjunction with analyst firm Ovum in fall 2014 among 818 IT decision makers in various countries, including 408 in the United States. The report details striking findings around how U.S. and international enterprises perceive security threats, the types of employees considered most dangerous, environments at the greatest risk for data loss and the steps or...
Storage administrators find themselves walking a line between meeting employees’ demands to use public cloud storage services, and their organizations’ need to store information on-premises for security, performance, cost and compliance reasons. However, as file sharing protocols like CIFS and NFS continue to lose their relevance, simply relying only on a NAS-based environment creates inefficiencies that hurt productivity and the bottom line. IT wants to implement cloud storage it can purchase a...
Cloud Technology Partners on Wednesday announced it has been recognized by the Modern Infrastructure Impact Awards as one of the Best Amazon Web Services (AWS) Consulting Partners. Selected by the editors of TechTarget's SearchDataCenter.com, and by votes from customers and strategic channel partners, the companies acknowledged by the Modern Infrastructure Impact Awards represent the top providers of cloud consulting services for AWS including application migration, application development, inf...
“We help people build clusters, in the classical sense of the cluster. We help people put a full stack on top of every single one of those machines. We do the full bare metal install," explained Greg Bruno, Vice President of Engineering and co-founder of StackIQ, in this SYS-CON.tv interview at 15th Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.