IES Holdings Acquires Arrow Engine Company
Rhea-AI Summary
IES Holdings (NASDAQ: IESC) has acquired Arrow Engine Company from TriMas Arrow, based in Tulsa, Oklahoma, specializes in engines, generator sets, compressors, and replacement parts primarily for the natural gas production market. The acquisition includes Arrow's 130,000-square-foot manufacturing facility in Tulsa.
Arrow, with projected 2024 revenue of $20 million, will be integrated into IES's Infrastructure Solutions segment while maintaining its brand name. The acquisition strategically expands IES's power services into oil and gas markets, with plans for substantial investments to expand Arrow's product line and drive growth.
The combined operation will utilize over 1.5 million square feet of manufacturing and fabrication space across facilities in Ohio, Oklahoma, and Pennsylvania.
Positive
- Strategic expansion into oil and gas markets
- Acquisition adds $20M in annual revenue
- Includes 130,000 sq ft manufacturing facility
- Plans for substantial product line expansion
- Integration with existing infrastructure creating 1.5M sq ft total manufacturing space
Negative
- None.
News Market Reaction
On the day this news was published, IESC declined 2.49%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HOUSTON, Jan. 31, 2025 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced that it has acquired Arrow Engine Company (“Arrow”), a Tulsa, Oklahoma-based provider of engines, generator sets, compressors, and replacement parts primarily for the natural gas production market, from TriMas Corporation. The acquisition includes Arrow’s owned manufacturing facility in Tulsa, which consists of 130,000 square feet of manufacturing space. Arrow, with estimated calendar year 2024 revenue of
Jeff Gendell, Chairman and Chief Executive Officer, said, “The acquisition of Arrow strategically adds to our product offerings and expands our power services into the oil and gas markets. IES plans to make substantial investments to expand Arrow’s product line and drive long-term growth in both existing and new markets. We are thrilled to welcome Arrow to the IES family.”
Mike Rice, President of IES’s Infrastructure Solutions segment, added, “Arrow brings to IES a strong brand reputation, legacy of innovation, and expertise in stationary engines and gas compression solutions. We are excited to partner with the Arrow team to leverage our combined sales, engineering, and fabrication resources to grow our business and deliver expanded capabilities to our customers. Combined with our existing facilities in Ohio, Oklahoma and Pennsylvania, we have over 1.5 million square feet of manufacturing and fabrication space to meet the evolving needs of our customers.”
ABOUT IES HOLDINGS, Inc.
IES designs and installs integrated electrical and technology systems and provides infrastructure products and services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our more than 9,000 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.
ABOUT IES Infrastructure Solutions
IES’s Infrastructure Solutions segment is a provider of electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products, such as generator enclosures and bus duct, used in data centers and other industrial applications. For more information about IES Infrastructure Solutions, please visit https://iesinfrastructure.com.
ABOUT ARROW ENGINE COMPANY
Arrow, established in 1955, is a leading provider of engines, generator sets, compressors, and replacement parts to a variety of oilfield and industrial markets. For more information about Arrow please visit www.arrowengine.com.
Contact: Jeffrey Gendell, CEO
IES Holdings, Inc.
713-860-1500
FAQ
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