InfrastruX Group, a national provider of utility infrastructure constructionand maintenance services, recently announced that it has acquired Hawkeye LLC, aHauppauge, N.Y.-based company operating in the Northeast and Mid-Atlantic statesthat offers construction services to the utility industry and state and localmunicipalities.
The transaction was financed through a $430 million recapitalization ofInfrastruX Group, which is owned by Tenaska Power Fund, L.P.
Under the terms of the completed transaction, Hawkeye and its subsidiaries,which together have approximately $200 million in annual revenues, eight officesand 1,100 employees, will continue to operate under their existing brand namesas part of InfrastruX Group. William J. Haugland, Hawkeye founder and president,and the rest of Hawkeye’s management team will remain with the combined company.
Hawkeye’s expertise in utility infrastructure services and its strongpresence in the northeastern United States complement InfrastruX Group’s currentservices offering and geographic locations. The newly combined company will beable to provide enhanced maintenance and construction services to utilitiesacross North America that are looking for innovative, reliable and efficientways to upgrade the existing energy infrastructure.
“Demand from the utility industry for infrastructure maintenance andconstruction services continues to increase, and our acquisition of Hawkeyebroadens our capabilities and strengthens our national leadership position inthis currently underserved market,” says Michael T. Lennon, president and CEO,InfrastruX Group. “Hawkeye adds critical mass to our business and to ourpresence in New England and the Mid-Atlantic states, thereby significantlyexpanding our ability to service our customers and provide opportunities to ouremployees.”
The acquisition of Hawkeye enables InfrastruX Group to expand its leadingutility infrastructure services business. With Hawkeye, InfrastruX Group willhave 54 offices and 4,100 employees, and will have broadened and deepened itsexpertise to manage diverse utility infrastructure projects anywhere in theUnited States and Canada. It also will be able to compete for a wider range ofprojects, including those that require a unionized workforce.