Leonard Green & Partners LP, a private equity firm, is near to closing its deal to acquire United States Infrastructure Corporation. The deal is supposedly worth between the range of $700 million to $800 million.
Leonard Green & Partners' move to buy USIC is not its usual move, according to its history or only investing in firms involved with retail and consumer products.
United States Infrastructure Corporation is a company that maintains telecommunication lines and cables underground. The company also takes care of power and water utilities. Ontario Municipal Employees Retirement System or OMERS owns USICF.
Leonard Green's plan to buy USIC mirrors its investor's mandate to perform investments in different sectors such as business services.
USIC's market is considered niche, and was valued at $1.6 billion by Standard & Poor's Rating Services.
The negotiations for the buyout have not been confirmed. Sources say that the deal could still be dismissed and that there is no assurance if the deal will push through.
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