IES Holdings (IESC) Divests STR Mechanical

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Go back to IES Holdings (IESC) Divests STR Mechanical

IES Holdings Divests STR Mechanical

October 10, 2022 8:45 AM EDT

HOUSTON, Oct. 10, 2022 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (IES) (NASDAQ: IESC) announced today that it has sold STR Mechanical, LLC and its subsidiary Technical Services II, LLC (collectively, STR) to an affiliate of SkyKnight Capital L.P. (SkyKnight). STR, originally acquired by IES in 2016, is a Charlotte, North Carolina-based provider of heating, ventilation and air conditioning (HVAC) maintenance, repair, and replacement services to commercial customers and had operated as part of IESs Commercial & Industrial segment.

Jeff Gendell, Chairman and Chief Executive Officer of IES, said, The decision to divest STR is... More