Business
IES Holdings Acquires Remaining Ownership Interest in Mechanical Services Business
HOUSTON, June 11, 2021 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced today that it has acquired the remaining 20% ownership interest
About this update from Ies Holdings, Inc.
[{"type":"text","content":"HOUSTON, June 11, 2021 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced today that it has acquired the remaining 20% ownership interest in STR Mechanical, LLC (“STR”), a Charlotte, North Carolina-based provider of commercial and industrial mechanical services. IES had previously acquired an 80% interest in STR in 2016. STR and its subsidiary Technical Services II, LLC provide heating, ventilation and air conditioning (HVAC) maintenance, repair, and replacement services as well as temperature control system installations throughout the Carolinas and Virginia. Jeff Gendell, Chairman and Chief Executive Officer, said, “I want to thank Keith Moore, STR’s former CEO, for his contributions and we are pleased to continue to partner with Chris Landreth, President of STR, and the rest of the STR team, led by CEO Mike Ditty. We are focused on growing our mechanical services business organically and through acquisitions, with a continued focus on expanding our preventive and emergency services and renovation and retrofit capabilities.” About IES Holdings, Inc.IES is a holding company that owns and manages operating subsidiaries that design and install integrated electrical and technology systems and provide infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our more than 5,700 employees serve clients across the United States. For more information about IES, please visit www.ies-co.com. About STR Mechanical, LLCSTR Mechanical provides commercial and industrial heating, ventilation and air conditioning (HVAC) services, including maintenance, repair, and replacement services, and temperature control system installations. For more information about STR, please visit http://strmechanical.com/. Company Contact:Will AlbrightVice President of Corporate Development and FinanceIES Holdings, Inc.(713) 860-1500 Investor Relations Contact:Robert Winters or Ross CollinsAlpha IR Group(312) [email protected] Certain statements in this release may be deemed \"forward-looking statements\" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon various estimates and assumptions that the Company believes to be reasonable as of the date he...