IES Holdings, Inc. acquires Arrow Engine Company to enhance power services in the natural gas production market.
Quiver AI Summary
IES Holdings, Inc. has acquired Arrow Engine Company, a Tulsa, Oklahoma-based supplier of engines and generators primarily for the natural gas sector, from TriMas Corporation. This acquisition includes Arrow's 130,000-square-foot manufacturing facility and is projected to generate approximately $20 million in revenue for the 2024 calendar year. Arrow will be integrated into IES’s Infrastructure Solutions segment, retaining its brand identity. IES plans to invest significantly in expanding Arrow's product offerings, enhancing their capabilities in the oil and gas markets. The acquisition is expected to leverage the combined resources of both companies to drive growth and meet customer needs effectively.
Potential Positives
- The acquisition of Arrow Engine Company enhances IES's product offerings and strategically expands its presence in the oil and gas markets.
- The acquisition allows IES to leverage additional manufacturing capabilities, increasing its capacity to meet customer needs with over 1.5 million square feet of manufacturing space.
- IES plans to invest substantially in Arrow's product line, indicating a commitment to long-term growth and innovation in its newly acquired segment.
Potential Negatives
- The acquisition may divert resources and focus from IES's core business areas, possibly straining management and operational efficiency.
- There is a risk associated with the integration of Arrow within IES, which could impact company culture and employee morale if not managed effectively.
- The dependence on the oil and gas market, especially in a time of fluctuating energy demands and potential regulatory changes, could expose IES to market vulnerabilities.
FAQ
What did IES Holdings, Inc. acquire?
IES Holdings acquired Arrow Engine Company, a provider of engines and compressors for the natural gas market.
Where is Arrow Engine Company located?
Arrow Engine Company is based in Tulsa, Oklahoma.
How much revenue did Arrow Engine Company generate in 2024?
Arrow is estimated to generate $20 million in revenue for the calendar year 2024.
What segment of IES will Arrow operate under?
Arrow will operate under IES's Infrastructure Solutions segment.
How large is Arrow's manufacturing facility?
Arrow's manufacturing facility in Tulsa encompasses 130,000 square feet of space.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$IESC Insider Trading Activity
$IESC insiders have traded $IESC stock on the open market 32 times in the past 6 months. Of those trades, 0 have been purchases and 32 have been sales.
Here’s a breakdown of recent trading of $IESC stock by insiders over the last 6 months:
- JEFFREY L ET AL GENDELL (Chief Executive Officer) has made 0 purchases and 19 sales selling 267,184 shares for an estimated $44,544,150.
- TRACY MCLAUCHLIN (SVP, CFO & Treasurer) has made 0 purchases and 3 sales selling 10,000 shares for an estimated $2,148,739.
- MATTHEW J SIMMES (President and COO) has made 0 purchases and 2 sales selling 7,000 shares for an estimated $2,053,265.
- DAVID B. GENDELL has made 0 purchases and 2 sales selling 10,000 shares for an estimated $1,872,643.
- TODD M CLEVELAND has made 0 purchases and 5 sales selling 10,000 shares for an estimated $1,535,712.
- MARY K NEWMAN (VP, General Counsel & Corp Sec) sold 2,500 shares for an estimated $715,575
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$IESC Hedge Fund Activity
We have seen 130 institutional investors add shares of $IESC stock to their portfolio, and 106 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- GENDELL JEFFREY L removed 250,000 shares (-2.3%) from their portfolio in Q3 2024, for an estimated $49,905,000
- INVESCO LTD. added 146,123 shares (+1301.5%) to their portfolio in Q3 2024, for an estimated $29,169,073
- SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC added 74,438 shares (+165.4%) to their portfolio in Q3 2024, for an estimated $14,859,313
- ASSENAGON ASSET MANAGEMENT S.A. removed 69,983 shares (-82.5%) from their portfolio in Q4 2024, for an estimated $14,063,783
- FRANKLIN RESOURCES INC added 68,750 shares (+79.3%) to their portfolio in Q3 2024, for an estimated $13,723,875
- WELLS FARGO & COMPANY/MN removed 66,213 shares (-83.9%) from their portfolio in Q3 2024, for an estimated $13,217,439
- FMR LLC added 65,145 shares (+4.6%) to their portfolio in Q3 2024, for an estimated $13,004,244
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
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 $20 million, will become part of IES’s Infrastructure Solutions segment and continue to operate under the Arrow name.
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
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
