$685M DBM Global Buyout Adds $1.3B Revenue, Data Center Steel Capabilities
IESC has more than doubled off its 52-week low of $309.51.
Summary
IES Holdings is acquiring steel fabricator DBM Global for $685M — $545M cash and $140M stock — from Innovate. DBM brings $1.3B in trailing revenue and 3,400 employees, with brands like Schuff Steel and Banker Steel serving commercial, industrial, and data center markets. The deal, expected to close by year-end, will operate as a new structural business line. This follows IES's blowout Q3 (revenue up 40% to $1.24B, record $4.5B backlog) and a series of large insider sales by Executive Chairman Jeffrey Gendell. The acquisition significantly scales IES's steel fabrication footprint and deepens its data center exposure, funded by cash and expanded credit. A 2-for-1 stock split is set for August 24, making the $140M stock component effectively 280K post-split shares at current prices.
At the time of this announcement, IESC was trading at $766.33 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $15.2B. The 52-week trading range was $309.51 to $811.85. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.