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News  ›  Benzinga

Legence Completes Acquisition of Bowers

Benzinga Logo Benzinga By Globe Newswire
Legence Completes Acquisition of Bowers

Legence Corp. (NASDAQ:LGN) has completed its acquisition of The Bowers Group, a mechanical contractor based in Beltsville, Maryland with 40+ years of expertise. The deal involved $325 million in upfront cash consideration funded through cash on hand, revolving credit, a $200 million term loan upsizing, and approximately 2.55 million shares of Class A common stock, with an additional $50 million in deferred consideration due at the end of 2026.

Insights
LGN   positive

The company successfully completed a strategic acquisition that expands its service offerings and geographic reach. Management expressed confidence in achieving greater success through the combination, and the deal represents an important milestone in their growth strategy. The acquisition adds a well-established contractor with 40+ years of expertise to their portfolio.