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News  ›  GlobeNewswire Inc.

Legence Completes Acquisition of Bowers

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Na
Legence Completes Acquisition of Bowers

Legence Corp. (Nasdaq: LGN) has completed its acquisition of The Bowers Group, a Maryland-based mechanical contractor with 40+ years of expertise in HVAC, plumbing, and process systems. The $325 million upfront purchase price was funded through cash, revolving credit, a $200 million term loan upsizing, and 2.55 million shares of Class A common stock, with an additional $50 million deferred consideration due at year-end 2026.

Insights
LGN   positive

Successful completion of a strategic acquisition marks an important growth milestone. The company is expanding its service offerings and geographic reach into the Northern Virginia and DC Metro markets, which should enhance revenue and market position. CEO expressed confidence in achieving greater success through the combination.