IES Holdings to Acquire DBM Global
IES Holdings announced a definitive agreement to acquire DBM Global, a structural steel fabrication, erection and industrial services platform, from INNOVATE Corp. The transaction consideration, including minority interests, is approximately $650 million, comprising cash and shares of IES common stock.
Why it matters — For INNOVATE Corp. shareholders, this agreement represents the sale of a major subsidiary platform for approximately $650 million in cash and stock consideration.