---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-036976"
form_type: "8-K"
ticker: "IESC"
cik: "0001048268"
company_name: "IES Holdings, Inc."
filed_at: "2026-08-11T11:00:25+00:00"
generated_at: "2026-08-11T11:05:38.854987+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# IES Holdings to acquire DBM Global for ~$650M, adding structural steel platform

## Summary
- Deal value ~$650M base; total ~$685M incl. $35M 338(h)(10) tax payment. Consideration: ~$545M cash + 215,487 IES shares (~$140M).
- DBM Global revenue ~$1.3B (12 mo to Mar 31, 2026), ~3,400 employees, brands: Schuff Steel, Banker Steel, GrayWolf, DBM Vircon, Aitken.
- IES acquires INNOVATE's ~91.2% stake, then short-form merger for minority; expected close in quarter ending Dec 31, 2026, subject to HSR approval.
- Will operate as new Structural segment; funded via cash on hand and expanded Wells Fargo credit facility; no financing condition.
- Stock consideration locked up for 60 days; no termination fee; IES expects rapid debt repayment from cash flow.

## SEC filing metadata
- accession: 0001493152-26-036976
- form_type: 8-K
- ticker: IESC
- cik: 0001048268
- company_name: IES Holdings, Inc.
- filed_at: 2026-08-11T11:00:25+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1048268/000149315226036976/0001493152-26-036976-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1048268/000149315226036976/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-036976
- JSON: https://secwatch.observer/filing/0001493152-26-036976.json
- Plain text: https://secwatch.observer/filing/0001493152-26-036976.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.