IES Holdings completes $691 million purchase of DBM Global
The acquisition closed October 5, adding a structural steel and industrial construction business to IES's electrical and mechanical operations.
Published
IES Holdings has completed its acquisition of DBM Global, a structural steel fabrication, erection and industrial construction business, for total consideration of approximately $691 million.
The deal closed October 5, 2026. IES paid approximately $545 million in cash and issued 430,974 shares of its common stock, valued at approximately $146 million. DBM Global generated revenue of approximately $1.5 billion in the twelve months ended June 30, 2026, and becomes IES's new Structural line of business alongside its existing segments.
IES funded the cash portion with cash on hand and borrowings under its credit facility, which was amended the same day to raise total borrowing capacity to $700 million.
The acquisition takes IES beyond its traditional electrical and mechanical contracting work into structural steel fabrication and industrial construction, a business tied to heavy industrial and infrastructure spending rather than residential and commercial building. Paying for the deal with cash, new shares and an enlarged credit facility raises both the company's debt and its share count at the same time, changing its capital structure just as DBM Global's revenue is added to its results. The expanded credit facility leaves IES with more borrowing room than the deal itself required, which could matter if it pursues further acquisitions or needs additional working capital.