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IES Holdings Acquires Arrow Engine Company

1. IES acquired Arrow Engine Company for $20 million revenue. 2. Acquisition expands IES's product offerings in oil and gas markets. 3. IES plans significant investments to enhance Arrow's product line. 4. Combination of facilities provides 1.5 million square feet of manufacturing space.

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FAQ

Why Bullish?

The acquisition boosts IES's market position and may enhance sales, similar to past acquisitions boosting operational capabilities.

How important is it?

The acquisition directly impacts future revenue and growth prospects for IESC, likely affecting investor sentiment.

Why Long Term?

Investment in Arrow's growth suggests sustained revenue increases over time, seen in other strategic acquisitions.

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TRS
January 31, 2025 08:45 ET  | Source: IES Holdings, Inc. HOUSTON, Jan. 31, 2025 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced that it has acquired Arrow Engine Company (“Arrow”), a Tulsa, Oklahoma-based provider of engines, generator sets, compressors, and replacement parts primarily for the natural gas production market, from TriMas Corporation. The acquisition includes Arrow’s owned manufacturing facility in Tulsa, which consists of 130,000 square feet of manufacturing space. Arrow, with estimated calendar year 2024 revenue of $20 million, will become part of IES’s Infrastructure Solutions segment and continue to operate under the Arrow name. Jeff Gendell, Chairman and Chief Executive Officer, said, “The acquisition of Arrow strategically adds to our product offerings and expands our power services into the oil and gas markets. IES plans to make substantial investments to expand Arrow’s product line and drive long-term growth in both existing and new markets. We are thrilled to welcome Arrow to the IES family.” Mike Rice, President of IES’s Infrastructure Solutions segment, added, “Arrow brings to IES a strong brand reputation, legacy of innovation, and expertise in stationary engines and gas compression solutions. We are excited to partner with the Arrow team to leverage our combined sales, engineering, and fabrication resources to grow our business and deliver expanded capabilities to our customers. Combined with our existing facilities in Ohio, Oklahoma and Pennsylvania, we have over 1.5 million square feet of manufacturing and fabrication space to meet the evolving needs of our customers.” ABOUT IES HOLDINGS, Inc. IES designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our more than 9,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com. ABOUT IES Infrastructure Solutions IES’s Infrastructure Solutions segment is a provider of electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products, such as generator enclosures and bus duct, used in data centers and other industrial applications. For more information about IES Infrastructure Solutions, please visit https://iesinfrastructure.com. ABOUT ARROW ENGINE COMPANY Arrow, established in 1955, is a leading provider of engines, generator sets, compressors, and replacement parts to a variety of oilfield and industrial markets. For more information about Arrow please visit www.arrowengine.com. Contact: Jeffrey Gendell, CEO IES Holdings, Inc. 713-860-1500

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