Integrys Energy Services to sell its energy consulting business to U.S. Energy Services, Inc.

From a news release issued by Integrys Energy:

Chicago, IL – Integrys Energy Group, Inc. (NYSE: TEG) today announced that its nonregulated energy subsidiary, Integrys Energy Services Inc., has signed an agreement to sell its energy consulting business to Minneapolis-based U.S. Energy Services, Inc. for an undisclosed sum. The transaction, which requires certain contractual consents, is expected to close in the third quarter of 2009.

Financial terms of the transaction are not being disclosed, but the value realized is in line with Integrys Energy Group’s recovered capital expectations associated with its nonregulated segment divestiture plans.

Through its energy consulting business, Integrys Energy Services provides energy advisory and information services for facility and corporate customers in the areas of risk management, strategic sourcing, utility data management, and demand-side energy management. This activity required negligible collateral support and generated sales of approximately $4 million in 2008.