Innovate completes sale of DBM Global to IES Holdings for about $413 million cash plus IES shares

By Public Technologies
  • IES Holdings completed its acquisition of DBM Global from Innovate, buying 100% of DBM Global’s common stock.
  • Innovate sold its 91.21% stake for about USD 413 million in cash at closing, including a USD 35 million tax-election payment.
  • Consideration also included 430,974 shares of IES common stock valued at about USD 146 million, subject to a 60-day lock-up.
  • Innovate plans to use the net proceeds to reduce outstanding debt.


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