OREANDA-NEWS. IES Holdings, Inc. (or “IES”) (NASDAQ:IESC) today announced that a wholly-owned subsidiary of IES has entered into a definitive agreement to acquire all of the shares of stock of Technibus, Inc. (“Technibus”), a Canton, Ohio-based manufacturer of custom-engineered, metal enclosed bus duct solutions, in an all cash transaction valued at approximately $45 million.  Upon completion of the transaction, Technibus will operate as a subsidiary in IES's Infrastructure Solutions segment and will continue to operate under the Technibus name.  The transaction is expected to close within the next few weeks, subject to customary closing conditions.

Technibus’ products are highly engineered electrical components that conduct electricity between medium-voltage generators, breakers, transformers, and switchgear, primarily utilized at power generation plants and large electricity-consuming facilities.  Specifically, Technibus’ solutions include non-segregated and segregated phase bus duct, isolated phase bus, advanced systems fabrication and field services for the power generation, petrochemical, commercial, transit, data center and industrial markets.   

Robert Lewey, President of IES, said, “We are excited to be acquiring Technibus, which we believe will further strengthen and diversify IES’s services and product offerings.  Technibus has a long-term track record of providing highly engineered solutions for a customer base comprised of blue chip original equipment manufacturing companies and engineering, procurement and construction companies.  We expect the acquisition of Technibus will add valuable capabilities to our Infrastructure Solutions segment and broaden its solutions offering to both Technibus and current IES customers.” 

Mike Rice, President of IES's Infrastructure Solutions segment, added, "The acquisition of Technibus will transform Infrastructure Solutions from a business primarily focused on industrial repairs and services to a trusted provider of custom engineered solutions to our customers.  Technibus’ superior products and engineering expertise, combined with Infrastructure Solutions’ service capabilities, a shared customer base, and close geographic proximity to our segment’s Massillon, Ohio headquarters, will significantly enhance our solutions offering.”  

Dinsmore & Shohl LLP is serving as legal advisor to IES. 

The investment banking firm Fidus Securities, LLC is acting as exclusive financial advisor to Technibus on this transaction. Ropes & Gray LLP is serving as legal advisor to Technibus.