IES Holdings Acquires Arrow Engine Company: Strategic Expansion into the Natural Gas Market
HOUSTON, Jan.31, 2025 — In a significant move to bolster its position in the infrastructure sector, IES Holdings, Inc.(IES) (NASDAQ: IESC) has announced the acquisition of Arrow Engine Company (Arrow) from TriMas Corporation.Arrow, a Tulsa, Oklahoma-based firm, is known for its production of engines, generator sets, compressors, and replacement parts tailored for the natural gas production market.The acquisition includes Arrow s expansive 130,000 square foot manufacturing facility in Tulsa, further enhancing IES s manufacturing capabilities.
Arrow is projected to generate an estimated revenue of $20 million in the calendar year 2024.By integrating Arrow into its Infrastructure Solutions segment, IES aims to diversify its portfolio and strengthen its operational capacity while enabling Arrow to continue operating under its established brand name.
This acquisition aligns seamlessly with IES Holdings ongoing strategy to grow through targeted mergers and acquisitions.On April 1, 2024, IES also expanded its foothold by acquiring Greiner Industries, a company involved in the manufacturing of various industrial components, further underpinning IES s commitment to building a stronger foundation for future growth.
IES Holdings Inc. listed on NASDAQ as IESC, has maintained its reputation in the electrical contracting and engineering sector, offering installation, maintenance, and repair services for a variety of electrical systems across multiple industries.With a keen focus on innovation and high-quality service delivery, the company adopts a client-oriented approach to meet the unique requirements of its diverse customer base.
As of now, IES Holdings stock is trading at $214.72, reflecting a robust increase of 3.78% over the last 90 days.This positive performance can be attributed to the company s strategic acquisitions and its commitment to expanding its market share in key sectors.
The acquisition of Arrow Engine Company, along with the recent addition of Greiner Industries, positions IES Holdings not just as a leader within the electrical contracting space but also as a formidable player in the energy and infrastructure sector.With these strategic moves, IES Holdings continues to pave the way for sustainable growth and long-term success in a rapidly evolving market landscape.
Comments