Alliant Energy Corporation recently announced 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).
“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, President and CEO, Alliant Energy Chairman. “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, 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.”
The acquisition is expected to close in January 2013.