Private equity and alternative asset manager Blackstone announced today an agreement to acquire Sabre Industries, Inc. from The Jordan Company, citing the company’s positioning to benefit from the emerging energy transition.
Sabre is a leading designer and manufacturer of highly-engineered, mission-critical overhead steel poles, towers, battery storage solutions, and related services for electrical utility and telecom end markets.
Blackstone stated that the acquisition continues its energy-focused private equity business Blackstone Energy Partners’ focus on investing in companies that support the transition to cleaner, more affordable energy. According to Blackstone, Sabre’s offerings are critical to modernizing and strengthening the U.S. electrical transmission and distribution grid, safely and efficiently interconnecting rapidly-growing renewable generation capacity and battery storage facilities, as well as to expanding 4G and 5G wireless telecom infrastructure for enhanced network reliability and connectivity.
The announcement comes as the U.S. appears to be on the cusp of decades of infrastructure investment as the world transitions to cleaner energy sources. Earlier this month, President Biden unveiled details of his infrastructure plan, the American Jobs Plan, calling for massive amounts of expenditure allocated to key sustainable investment areas including clean energy, electrification, climate resilience and emissions reduction technologies.
David Foley, Global Head of Blackstone Energy Partners, said:
“Sabre is the most recent in a series of investments by Blackstone Energy Partners in critical energy infrastructure and essential services needed to help deliver cleaner, more reliable and affordable energy, and an example of Blackstone’s ongoing commitment to invest in the entrepreneurs and businesses who will help lead America’s energy transition.”
Jim Ruddy, CEO of Sabre, added:
“Our leadership team is very excited to be partnering with Blackstone, a leading investor in energy and infrastructure related end markets. We believe Blackstone will be an excellent strategic partner and will help the company accelerate its growth, while continuing to provide high-quality products and services that will assist in modernizing the U.S. electrical grid and in enhancing wireless telecom networks.”