IES Holdings Completes Acquisition of DBM Global
Key Highlights
- ➤IES completes DBM Global acquisition for approximately $691 million
- ➤DBM Global generated approximately $1.5 billion revenue in twelve months ended June 30, 2026
- ➤IES acquires DBM Global’s 4,000 employees and adds a new Structural business line
- ➤Consideration included approximately $545 million cash and 430,974 IES shares
- ➤IES expects combined cash flow to rapidly repay acquisition-related borrowings
Expert Statements
Matt Simmes, President and Chief Executive Officer of IES
“Today we welcome DBM Global’s approximately 4,000 employees to IES. DBM Global brings scaled engineering, fabrication and erection capabilities and a long track record of successfully delivering complex structural projects. We are also excited to work with DBM Global to offer a broader range of products and services so that together we deliver innovative solutions to our combined customer base, particularly in data center, industrial and infrastructure markets. We look forward to investing in DBM Global’s people, facilities and equipment and to working together on our customers’ most complex projects.”
Jeff Gendell, Executive Chairman of IES
“DBM Global is a premier business with an outstanding team and substantial long-term growth potential, and we believe it will be an excellent addition to IES’s portfolio of businesses. As our largest acquisition to date, we were deliberate in how we financed the transaction, with a focus on maintaining our strong balance sheet by using a combination of cash, borrowings and IES equity. We expect substantial cash flow from both IES and DBM Global will allow us to rapidly repay acquisition-related borrowings while continuing to reinvest in our businesses and pursue additional opportunities.”
Rustin Roach, President and Chief Executive Officer of DBM Global
“Joining IES marks an exciting next chapter for our businesses and our people. IES’s long-term ownership approach and financial strength will allow us to accelerate investment in our operations while continuing to deliver for our customers, many of whom we have served for decades. We look forward to working alongside IES’s other operating segments to bring additional capabilities and capacity to our customers’ projects.”
HOUSTON, Oct. 05, 2026 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) today announced the closing of its previously announced acquisition of DBM Global Inc. (“DBM Global”), a vertically integrated structural steel fabrication, erection and industrial construction and engineering services platform, for total consideration of approximately $691 million, consisting of cash and shares of IES common stock. IES acquired 100% of the common stock of DBM Global, including the approximately 91.2% interest held by INNOVATE Corp. (“INNOVATE”) (NYSE: VATE) and the remaining interests held by other DBM Global stockholders. Effective today, DBM Global will operate as IES’s new Structural line of business alongside IES’s existing Communications, Residential, Infrastructure Solutions, and Commercial & Industrial segments. DBM Global generated revenue of approximately $1.5 billion for the twelve months ended June 30, 2026.
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