IES Holdings Announces $650 Million Acquisition of DBM Global, Inc.

IES Holdings, Inc. (IES) has entered into a definitive Transaction Agreement to acquire DBM Global, Inc. for a base purchase price of $650 million. Under the terms of the agreement dated August 7, 2026, IES will purchase approximately 92% of DBM Global's outstanding common stock. Following the acquisition, DBM Global will merge with an IES subsidiary and operate as a wholly-owned subsidiary of IES.

Key Details

• Transaction Value: The base purchase price for the acquisition is $650 million, subject to customary post-closing adjustments.
• Consideration: The seller will receive $140 million in IES common stock (215,487 shares at a price of $649.69 per share) and the remainder in cash. A $5 million cash holdback is in place for purchase price adjustments.
• Structure: The transaction involves an initial stock purchase followed by a merger. The transaction is not subject to any financing conditions.
• Timeline & Conditions: The closing is subject to customary conditions, including the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Act. The agreement has an outside date of February 7, 2027, for completion.