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Construction M&A image Construction M&A » By The Online Investor Staff, updated Thu., Aug. 13, 12:46 AM Recent mergers and acquisitions in the Construction M&A category.

Slide #77. Integrated Electrical Services, Inc. MISCOR Group, Ltd.

Acquirer: Integrated Electrical Services, Inc. (NASDAQ:IESC)
Acquiree: MISCOR Group, Ltd. (MIGL)
Details: Integrated Electrical Services, Inc. (NASDAQ:IESC) ("IES") and MISCOR Group, Ltd. (OTCQB:MIGL) ("MISCOR"), today announced that IES Subsidiary Holdings, Inc., a wholly owned subsidiary of IES, has entered into a definitive merger agreement to acquire all of the outstanding common stock of MISCOR for an aggregate transaction value of approximately $24 million. For MISCOR shareholders, the per share consideration will be based upon MISCOR's average daily debt balance over the 30-day period ending fifteen business days prior to the closing of the transaction. As of March 11, 2013, MISCOR's unaudited average daily debt balance over the prior 30-day period was approximately $7.2 million. MISCOR anticipates that its debt balance at closing of the transaction will be between $6.5 and $5.5 million, which would yield consideration of between $1.48 and $1.57 per share, a 26 to 34 percent premium to MISCOR's 60-day trading average. The price-per-share adjustment will be communicated to shareholders prior to the closing of the election period and is more fully described in the definitive merger agreement.

IES Holdings is a holding company. Co. has four business segments: Commercial & Industrial, which provides electrical and mechanical design, construction, and maintenance services to the commercial and industrial markets in various regional markets and nationwide in certain areas such as the power infrastructure market; Communications, which provides technology infrastructure services to corporations and independent businesses; Infrastructure Solutions, which provides electro-mechanical solutions for industrial operations; and Residential, which provides electrical installation services for single-family housing and multi-family apartment complexes.

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Company Name:  IES Holdings Inc
Website:  www.ies-corporate.com
Sector:  Construction
Number of ETFs Holding IESC:  21
Total Market Value Held by ETFs:  $18.71M
Total Market Capitalization:  $586.00M
% of Market Cap. Held by ETFs:  3.19%
 

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August 13, 2020    12:46 AM Eastern
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