(RTTNews) – IES Holdings, Inc. (IESC) announced Monday that it has entered into a definitive agreement to acquire DBM Global, Inc., a vertically integrated structural steel fabrication, erection and industrial services platform, from INNOVATE Corp. (VATE).
The consideration for DBM Global, including minority interests, is approximately $650 million, comprised of cash and shares of IES common stock.
IES expects to fund the cash portion of the consideration through a combination of cash on hand and borrowings under an expanded credit facility being arranged by Wells Fargo.
DBM Global generated revenue of approximately $1.3 billion for the twelve months ended March 31, 2026.
Upon closing of the Transaction, DBM Global will operate as a new Structural line of business for IES, further diversifying IES’s operations alongside its existing Communications, Residential, Infrastructure Solutions, and Commercial & Industrial segments.
The transaction is expected to close in the quarter ending December 31, 2026, subject to customary closing conditions, including regulatory approvals and other conditions. The final consideration is subject to customary net working capital and other true-up adjustments.
Pursuant to the definitive agreement, IES will first acquire INNOVATE’s approximately 91.2% interest in DBM Global. Immediately following that closing, IES will acquire the remaining minority interests in DBM Global via a short form merger.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
(RTTNews) – IES Holdings, Inc. (IESC) announced Monday that it has entered into a definitive agreement to acquire DBM Global, Inc., a vertically integrated structural steel fabrication, erection and industrial services platform, from INNOVATE Corp. (VATE).
The consideration for DBM Global, including minority interests, is approximately $650 million, comprised of cash and shares of IES common stock.
IES expects to fund the cash portion of the consideration through a combination of cash on hand and borrowings under an expanded credit facility being arranged by Wells Fargo.
DBM Global generated revenue of approximately $1.3 billion for the twelve months ended March 31, 2026.
Upon closing of the Transaction, DBM Global will operate as a new Structural line of business for IES, further diversifying IES’s operations alongside its existing Communications, Residential, Infrastructure Solutions, and Commercial & Industrial segments.
The transaction is expected to close in the quarter ending December 31, 2026, subject to customary closing conditions, including regulatory approvals and other conditions. The final consideration is subject to customary net working capital and other true-up adjustments.
Pursuant to the definitive agreement, IES will first acquire INNOVATE’s approximately 91.2% interest in DBM Global. Immediately following that closing, IES will acquire the remaining minority interests in DBM Global via a short form merger.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
