Seattle-based InfrastruX Group Inc., which builds and maintains electric and gas transmission and distribution systems, has filed with the Securities and Exchange Commission to issue an initial public offering to raise up to $290 million in cash to pay down debt and fund possible acquisitions. The company serves about 650 electric and gas utilities, including Dallas-based Oncor and Columbus, Ohio-based American Electric Power. InfrastruX operates in the Southwest, Midwest and Northeast. In its prospectus, filed on Aug. 10, the company says its work is increasing because of a focus on renewable energy and would benefit from potential national renewable portfolio
The growing need to collect, store and analyze the huge volumes of data collected from infrastructure project stakeholders is generating a new growth area for construction-sector firms, IT vendors and professionals.