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January 27, 2004
- For Immediate Release
Philadelphia, PA –
InfraSource Incorporated (InfraSource) announced today that they have
completed the acquisition of Maslonka & Associates, Inc. (Maslonka)
of Mesa, Arizona.
Maslonka is a highly
regarded electric transmission construction and services provider in the
Western and Southwestern United States. The company has worked with a
number of major transmission owners over the last several years and is
currently performing the engineering, procurement, and construction of
approximately 84 miles of 500 KV transmission line on the high profile
“Path 15” project in California for the Western Area Power Administration.
It was also recently awarded the contract for the Bonneville Power Administration
Schultz- Wautoma 500KV Line. This project will be about 63 miles long
and will add 600 megawatts of transfer capacity to BPA’s grid in
central Washington.
InfraSource CEO Dave
Helwig said the acquisition of Maslonka represents a strategic addition
to the InfraSource family of companies. “With their substantial capabilities
and presence in the West, they give us the ability to provide a broader
range of services to a wider range of customers” he said. “Maslonka
has built a solid reputation for performance based on its successful execution
of a number of difficult transmission projects. We are excited about their
addition to the team.”
Helwig continued,
“Martin J. Maslonka will remain the President of the company, reporting
to me and his existing management team will continue in their current
roles, expanding the depth of the InfraSource leadership team. As with
the other InfraSource companies, Maslonka will continue to use their own
well recognized name brand and will work with our other companies when
this best meets our customer’s needs.”
Martin Maslonka, President of Maslonka & Associates said, “We’re
excited about becoming part of the InfraSource team and being able to
participate in its continued growth as a national leader in providing
electric transmission construction and services”.
About InfraSource:
InfraSource, Inc. is a leading provider of infrastructure services for
electric power, gas, and telecommunications intensive industries in the
United States. InfraSource provides comprehensive transmission and distribution
network services including design/engineering, operations, maintenance,
and program management on a project or turnkey basis. For customers seeking
the most cost effective approach to meeting their infrastructure construction
and maintenance needs, InfraSource provides demonstrated quality and expertise,
customized service, and proven record of performance. InfraSource, a privately
held company, owned by GFI Energy Ventures / Oaktree Capital Management,
employs approximately 4,000 people nationally and generates annual revenues
of approximately $500 million. The family of InfraSource companies includes
Dashiell/Dacon, MJ Electric, Electric Services Inc., InfraSource Underground
Services, and Blair Park/Sunesys. For more information visit www.infrasourceinc.com.
About GFI Energy
Ventures:
GFI has been an equity investor in established, industry-leading companies
serving the energy market since 1995. GFI has originated over thirty investments
in successful companies that provide the systems, software, equipment
and services to participants in the energy market place. The firm is also
the co-general partner with Oaktree Capital Management, LLC of the $454
million OCM/GFI Power Opportunities Fund, L.P. GFI's Website is: www.gfienergy.com.
About Oaktree
Capital Management:
Oaktree Capital Management is a Los Angeles-based alternative investment
management and buyout firm that currently manages in excess of $26 billion
for institutions and wealthy individuals. The investment in InfraSource
was made by Oaktree’s private equity group, which manages approximately
$2.5 billion and has a track-record of sponsoring management teams and
providing the resources necessary to create long-term shareholder value
in a variety of industries. Oaktree's Website is: www.oaktreecap.com.
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