The Tenaska Power Fund has acquired InfrastruX Group Inc. (Bellevue, Washington, U.S.), a national provider of infrastructure construction services to utility industries, from Puget Energy Inc. (Bellevue). The transaction was expected to close at a sale price of US$275 million. InfrastruX Group will continue to be led by President and CEO Michael Lennon and will remain headquartered in Washington.

Puget Energy said it would use the proceeds from the sale to repay debt and support its core utility business. The transaction also represents an important step in Puget Energy's strategy to focus resources on Puget Sound Energy, its regulated electric and natural gas utility.

InfrastruX Group, with more than 3000 employees and annual revenues approaching $400 million, will maintain its focus on providing its utility customers services such as power line and natural gas and petroleum pipeline construction, maintenance, substation construction, revitalization and damage prevention of underground power lines, and emergency and storm restoration of service.