India, Aug. 10 -- 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.
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