Legence Corp. has successfully completed the acquisition of The Bowers Group, a premier mechanical contractor based in Beltsville, Maryland.
The acquisition aims to enhance service offerings for customers in the Northern Virginia and DC Metro area.
The purchase price included a cash consideration of $325 million along with other funding sources.
Acquisition Completion
Legence successfully finalized the acquisition of The Bowers Group, marking a strategic milestone in its growth strategy.
Funding Details
The acquisition was funded through a combination of cash on hand, borrowings, upsizing of term loan facility, and shares issuance.
Deferred Consideration
An additional $50 million of deferred consideration will be paid in cash or stock by the end of 2026 at Legence's discretion.
- The acquisition aligns with Legence's growth strategy and is expected to result in increased success for the company.
- By combining expertise, Legence and Bowers aim to offer improved mechanical, plumbing, and process system solutions to clients.
Legence Corp.'s acquisition of The Bowers Group signifies a significant step in expanding its service offerings and enhancing its market position in the mechanical contracting industry.