By Colin Kellaher

 

Blackstone Group Inc. on Tuesday said it agreed to buy energy and telecom infrastructure provider Sabre Industries Inc. from fellow private-equity firm Jordan Co. for an undisclosed amount.

Blackstone said the deal is part of a focus on investing in companies that support the transition to cleaner, more affordable energy by Blackstone Energy Partners, its energy-focused private-equity business.

Blackstone said Sabre, based in Alvarado, Texas, makes overhead steel poles, towers, battery-storage solutions and related services for electrical utility and telecom end markets.

Blackstone said Sabre will continue to operate independently as a portfolio company, adding that Sabre's leadership team and employees plan to invest alongside the firm in the transaction, slated to close in the second quarter.

Blackstone Energy Partners has invested more than $18 billion of equity globally across a range of sectors within the energy industry.

New York middle-market private-equity firm Jordan acquired Sabre from Kohlberg & Co. in 2019.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

April 13, 2021 10:35 ET (14:35 GMT)

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