IES Holdings acquires Gulf Island Fabrication for $12/share (~$192M equity value)

IES Holdings, Inc.

All-cash deal: $12.00 per share; aggregate equity value ~$192M; 52% premium to Nov 6 close.
Expected to close in quarter ending March 31, 2026, subject to shareholder and HSR clearance.
Supporting shareholders (~20% of GIFI) and IES (~3.5%) have agreed to vote in favor.
Gulf Island will not hold its Q3 2025 earnings call due to the transaction.
Acquisition expands IES's Gulf Coast fabrication footprint (Houma, LA facility).

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