Legence Corp. · NASDAQ:LGN
Legence — Merger or Acquisition (November 2025)
9 slides from Legence's merger presentation, Nov 14, 2025
Slide 1: Bowers Acquisition
Bowers Acquisition November 14, 2025 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation (this “Presentation”) of Legence Corp. (“Legence,” “LGN,” the “Company,” “we,” “us” or “our”) contains forward-looking statements. All statements, other than statements of historical fact, included in this Presentation including, without limita
Slide 3: Disclaimer (cont'd)
Disclaimer (cont’d) Non-GAAP Financial Measures This Presentation includes historical EBITDA of Bowers. EBITDA is a financial measure not presented in accordance with GAAP and is defined as net income, plus interest and other financing expenses, income taxes, depreciation, and amortization. EBITDA o
Slide 4: Bowers Overview
Bowers Overview Key Metrics Founded in 1984 and headquartered in Beltsville, MD, Bowers is a scaled, industry-leading mechanical contractor serving high growth end markets across the $767M $72M $1.3B Northern Virginia/DC Metro Area Q3 2025 LTM Q3 2025 LTM Q3 2025 Revenues EBITDA(1) Backlog & Awards
Slide 5: Strategic Rationale
Strategic Rationale Expansion of Mechanical and Plumbing Services to Northern Virginia/DC Area with Leading Mechanical Contractor • Complements Legence’s existing electrical contracting services and opens meaningful cross-selling opportunities across combined 1 clients, end markets, and services • E
Slide 6: Transaction Summary
Transaction Summary • Upfront consideration of approximately $475 million, consisting of approximately $325 million in cash, subject to certain purchase price adjustments, and approximately $100 million of Legence common Transaction stock Overview • Additional $50 million in deferred consideration,
Slide 7: Pro Forma Revenue & Gross Profit
Pro Forma Revenue & Gross Profit Legence (stand-alone)(1) Bowers (stand-alone)(1) Combined (1) Revenue by Segment 23% 30% $2.4B $0.8B $3.1B 70% 77% 100% Installation & Maintenance Engineering & Consulting Gross Profit by Segment 40% 48% $0.5B 52% $0.1B $0.6B 60% 100% Installation & Maintenance Engin
Slide 8: Pro Forma Revenue
Pro Forma Revenue Legence (stand-alone)(1) Bowers (stand-alone)(1) Combined (1) By End Market 4% 15% 7% 12% 5% 0% 4% 6% 3% 39% 6% 13% $2.4B $0.8B $3.1B 47% 15% 18% 70% 18% 17% Data Centers & Technology Life Sciences & Healthcare Education Mixed-Use State & Local Government Other By Building Type 36%
Slide 9: Pro Forma Backlog & Awards
Pro Forma Backlog & Awards Legence (stand-alone)(1) Bowers (stand-alone)(1) Combined (1) By Segment 29% 20% $3.1B $1.3B $4.4B 71% 80% 100% Installation & Maintenance Engineering & Consulting By End Market 13% 17% 14% 6% 1% 1% 0% 2% 5% 2% 42% 9% $3.1B $1.3B 13% $4.4B 51% 19% 72% 15% 17% Data Centers