Legence To Buy Bowers Group For Around $475 Mln

(RTTNews) - Legence Corporation (LGN), an engineering services provider, said on Friday that it has inked a deal to acquire The Bowers Group, Inc., a provider of mechanical and plumbing solutions for building systems, for around $475 million.

The acquisition consideration consists of $325 million in cash, around $100 million of LGN Class A shares, and an additional $50 million of deferred consideration to be paid at the end of 2026 in cash or LGN Class A shares.

The cash portion of the transaction will be funded with a combination of cash on hand and debt. The acquisition is expected to close in the first quarter of 2026.

Jeff Sprau, CEO of Legence, said: "This acquisition marks an exciting new chapter for Legence and further accelerates our strategy to deliver comprehensive building solutions to more clients in complex and high-growth sectors."

For the calendar year 2026, Bowers is expected to post adjusted EBITDA of $75 million to $85 million, on revenue of $825 million to $875 million.

For the 12-month period to September 30, Bowers has posted a net income of $69 million, with adjusted EBITDA of $72 million, on revenue of around $767 million.