IES Holdings To Acquire DBM Global From INNOVATE For $650 Mln Cash, Stock
IES Holdings (IESC) agreed to acquire DBM Global from INNOVATE (VATE) for about $650 million, including minority interests, paid with cash and IES common stock. IES plans to fund the cash portion via cash on hand and borrowings under an expanded Wells Fargo credit facility. DBM Global revenue was about $1.3 billion for the 12 months ended Mar. 31, 2026. Closing is expected in the quarter ending Dec. 31, 2026.



