Infrastructure and Energy Alternatives LLC (IEA), a newly formed venture chartered with building a diverse portfolio of energy and water infrastructure service companies, says it has acquired renewable energy contractor White Construction Inc. Terms of the investment were not disclosed.
White Construction will continue to be based in Clinton, Ind. Buddy White will remain as president of the company and will join the IEA board. In addition, the White family will acquire a material ownership interest in IEA. The GFI Energy Group, along with IEA management, will provide the equity capital for this acquisition, as well as for any future acquisitions.
‘We are very excited that White Construction has joined with IEA as we strive to build a premier energy and water infrastructure services company,’ says Paul Daily, CEO of IEA. ‘White's excellent management team and long history of high-quality construction, safety and responsive customer service makes it an excellent platform to capitalize on growth in the wind, solar and other renewable energy markets."