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Blackstone Group Buys Sabre Industries ZURICH (dpa-AFX) - Asset management firm Blackstone Group Inc. (BX) said on Tuesday that private equity funds associated with the company have agreed to acquire energy and telecom infrastructure supplier Sabre Industries Inc. The terms of the deal, however, were not disclosed. The purchase of Sabre from Jordan Company is part of Blackstone Energy Partners plan to invest more in companies, which are focusing on cleaner and affordable energy options. Alvarado, Texas-based Sabre Industries designs and manufactures highly-engineered, mission-critical overhead steel poles, towers, battery storage solutions, and related services for electrical utility and telecom end markets. ....
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. ....