InfraSource announces acquisition of Maslonka & Associates


PHILADELPHIA, Jan. 30, 2004 — InfraSource Inc. announced that it has completed the acquisition of Maslonka & Associates, Inc. of Mesa, Ariz.

Maslonka is a highly regarded electric transmission construction and services provider in the Western and Southwestern United States. The company has worked with a number of major transmission owners over the last several years and is currently performing the engineering, procurement, and construction of approximately 84 miles of 500 KV transmission line on the high profile “Path 15” project in California for the Western Area Power Administration.

It was also recently awarded the contract for the Bonneville Power Administration Schultz-Wautoma 500KV Line. This project will be about 63 miles long and will add 600 megawatts of transfer capacity to BPA’s grid in central Washington.

InfraSource CEO Dave Helwig said the acquisition of Maslonka represents a strategic addition to the InfraSource family of companies. “With their substantial capabilities and presence in the West, they give us the ability to provide a broader range of services to a wider range of customers,” he said. “Maslonka has built a solid reputation for performance based on its successful execution of a number of difficult transmission projects. We are excited about their addition to the team.”

Helwig continued, “Martin J. Maslonka will remain the President of the company, reporting to me and his existing management team will continue in their current roles, expanding the depth of the InfraSource leadership team. As with the other InfraSource companies, Maslonka will continue to use their own well recognized name brand and will work with our other companies when this best meets our customer’s needs.”

Martin Maslonka, President of Maslonka & Associates said, “We’re excited about becoming part of the InfraSource team and being able to participate in its continued growth as a national leader in providing electric transmission construction and services.”

About InfraSource:

InfraSource, Inc. is a provider of infrastructure services for electric power, gas, and telecommunications intensive industries in the United States. InfraSource provides comprehensive transmission and distribution network services including design/engineering, operations, maintenance, and program management on a project or turnkey basis.

For customers seeking the most cost-effective approach to meeting their infrastructure construction and maintenance needs, InfraSource provides demonstrated quality and expertise, customized service, and proven record of performance. InfraSource, a privately held company, owned by GFI Energy Ventures / Oaktree Capital Management, employs approximately 4,000 people nationally and generates annual revenues of approximately $500 million.

The family of InfraSource companies includes Dashiell/Dacon, MJ Electric, Electric Services Inc., InfraSource Underground Services, Blair Park/Sunesys. For more information visit www.infrasourceinc.com.

About GFI Energy Ventures:

GFI has been an equity investor in established, industry-leading companies serving the energy market since 1995. GFI has originated over thirty investments in successful companies that provide the systems, software, equipment and services to participants in the energy market place. The firm is also the co-general partner with Oaktree Capital Management, LLC of the $454 million OCM/GFI Power Opportunities Fund, L.P. GFI’s Website is: www.gfienergy.com.

About Oaktree Capital Management:

Oaktree Capital Management is a Los Angeles-based alternative investment management and buyout firm that currently manages in excess of $26 billion for institutions and wealthy individuals. The investment in InfraSource was made by Oaktree’s private equity group, which manages approximately $2.5 billion and has a track record of sponsoring management teams and providing the resources necessary to create long-term shareholder value in a variety of industries. Oaktree’s Website is: www.oaktreecap.com.

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