InfrastruX Heads for IPO

InfrastruX, which is a construction provider for gas and electric companies, has filed to go public. The offering – which could raise as much as $290 million – will be on the New York Stock Exchange (the proposed symbol is IFR).

A spinout of Puget Sound Energy (PSD), InfrastruX has engaged in a variety of acquisitions to bulk up. For example, last year the company posted sales of $827 million (there are 605 customers). However, there was a net loss of $36 million.

The owner of InfrastruX is Tenaska Power Fund LP, which is a private equity firm. The buyout happened in 2006.

The lead underwriters on the IPO include Credit Suisse and UBS Investment Bank.

Comments

[Stone Fox C...:]

Sounds interesting, but what are the forecasts for next year?

Aug 13 11:11 AM