M&A Deal Summary

IES Acquires Technibus

On June 2, 2016, IES acquired electrical equipment company Technibus from Pfingsten Partners for 45M USD

Acquisition Highlights
  • This is IES’s 2nd transaction in the Electrical Equipment sector.
  • This is IES’s largest (disclosed) transaction.
  • This is IES’s 5th transaction in the United States.
  • This is IES’s 2nd transaction in Ohio.

M&A Deal Summary

Date 2016-06-02
Target Technibus
Sector Electrical Equipment
Buyer(s) IES
Sellers(s) Pfingsten Partners
Deal Type Add-on Acquisition
Deal Value 45M USD
Advisor(s) Fidus Partners (Financial)
Ropes & Gray (Legal)

Target

Technibus

Canton, Ohio, United States
Technibus, Inc. is a manufacturer of custom engineered bus duct solutions for the power generation, petrochemical, commercial, and industrial markets. Products include metal enclosed, non-segregated bus ducts used to transmit high-voltage electricity and other custom sheet metal products.

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Buyer(S) 1

Buyer

IES

Houston, Texas, United States

Category Company
Founded 1997
Sector Business Services
Employees8,028
Revenue 2.4B USD (2023)
DESCRIPTION

IES is a consisted of a group of electrical contractors provides communications, residential, commercial and industrial, and infrastructure solutions to a variety of end markets. IES was founded in 1997 and is based in Houston, Texas.


DEAL STATS #
Overall 5 of 16
Sector (Electrical Equipment) 2 of 6
Type (Add-on Acquisition) 5 of 16
State (Ohio) 2 of 4
Country (United States) 5 of 16
Year (2016) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-27 STR Mechanical

Charlotte, North Carolina, United States

STR Mechanical, Inc. is a provider of commercial and industrial mechanical services, including maintenance, repair, and replacement services, and temperature control system installations.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-16 Freeman Enclosure Systems

Batavia, Ohio, United States

Freeman Enclosure Systems LLC is a manufacturer of custom generator enclosures that are primarily used by data centers and large commercial and industrial facilities.

Buy -

Seller(S) 1

SELLER

Pfingsten Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 1.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION
Pfingsten's office building at 300 North LaSalle in Chicago.
Pfingsten's office building at 300 North LaSalle in Chicago.

Pfingsten Partners is a private equity firm focused on investments in niche manufacturing, distribution, and business services companies. The Firm targets platform companies headquartered in the US although add-on acquisitions can be located outside the US. Prospective companies typically have revenues of $20 to $150 million and EBITDA of $3 to $12 million. Transaction types include private companies undergoing an ownership transition, corporate divestitures, strategic add-ons, and turnarounds. Pfingsten only invests in situations allowing for control. Pfingsten will not invest in real estate, natural resources, highly regulated businesses, retail, restaurants, early-stage companies, or technology. Pfingsten Partners was formed in 1989 and is based in Chicago, Illinois.


DEAL STATS #
Overall 23 of 40
Sector (Electrical Equipment) 4 of 6
Type (Add-on Acquisition) 11 of 16
State (Ohio) 6 of 7
Country (United States) 23 of 40
Year (2016) 1 of 3
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-19 Oliver

Hauppauge, New York, United States

Oliveris a manufacturer of value-added marketing collateral, packaging, and POP displays. The company is a provider of highly customized, quick turnaround marketing and packaging solutions to a diverse customer base across the health and beauty, consumer goods, financial services, building products, and specialty food and beverage end-markets. Oliver was founded in 1924 and is based in Hauppauge, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-07 Kith Kitchens

Haleyville, Alabama, United States

Kith Kitchens is a manufacturer of semi-custom framed and frameless kitchen and bath cabinetry under the Kith and Eudora brand names. Kith Kitchens is based in Haleyville, Alabama.

Buy -