IES Closes $691 Million Acquisition of DBM Global

MT newswire2026/10/05 16:58

12:58 PM EDT, 10/05/2026 (MT Newswires) -- IES (IESC) said Monday it has closed its acquisition of DBM Global, a structural steel and industrial construction company, for around $691 million in cash and IES stock. DBM Global will now operate as IES's new Structural line of business, according to a statement. The consideration consisted of around 431,000 IES shares and around $545 million in cash, including a $35 million payment to Innovate (VATE), which held a 91.2% stake in DBM, for its participation in a joint election, the company said. IES said it funded the cash consideration with cash on hand and borrowings under its credit facility arranged by Wells Fargo. Price: 340.07, Change: +0.73, Percent Change: +0.22

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