IES Holdings Completes $691 Million Acquisition of DBM Global, Inc.

IES Holdings, Inc. (IESC) announced on October 5, 2026, the completion of its acquisition of approximately 91.21% of DBM Global, Inc. for a total consideration of approximately $691 million. Following the acquisition, DBM Global was merged into an IES subsidiary and will operate as a wholly owned indirect subsidiary. The cash portion of the transaction was funded with cash on hand and borrowings under an amended credit agreement.

Key Details

• Transaction Value: The total purchase price of approximately $691 million consisted of ~$545 million in cash and 430,974 shares of IES common stock valued at ~$146 million.
• Financing: IES funded the cash consideration with cash on hand and $525 million in borrowings. In connection with the deal, IES increased its total credit facility to $700 million, consisting of a $200 million term loan and a $500 million revolving credit facility.
• Timeline: The transaction was initially announced on August 7, 2026, and officially closed on October 5, 2026.