Blackstone to Acquire Sabre Industries in Renewable-Energy Push

Blackstone Group Inc. is buying energy-infrastructure company Sabre Industries Inc., continuing a string of investments that center around America’s transition to cleaner, more-reliable power sources.

Closely held Sabre manufactures and designs overhead steel poles, towers and other components needed for the electrical-utility and telecom markets. The Alvarado, Texas-based company is focused on strengthening the grid, connecting battery storage facilities and expanding 4G and 5G wireless infrastructure. The deal with Blackstone-affiliated private equity funds is valued at more than $1.5 billion, according to people with knowledge of the matter.

New York-based Blackstone declined to comment on the financial terms of ...