Innovate to sell DBM Global to IES Holdings for $650 million
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INNOVATE Agrees to $650 Million Sale of DBM Global to IES Holdings
August 10, 2026 8:00 AM EDTNEW YORK, Aug. 10, 2026 (GLOBE NEWSWIRE) -- INNOVATE CORP.® (NYSE: VATE) (INNOVATE) announced today that it has entered into a Transaction Agreement (the Agreement) pursuant to which IES Holdings, Inc. (Nasdaq: IESC) (IES) will acquire DBM Global, Inc. (DBMG) for cash and stock consideration valued at $650 million (the Transaction). INNOVATE, through DBM Global Intermediate Holdco Inc., currently owns approximately 91.21% of the outstanding common stock of DBMG.
This transaction represents a meaningful step in our ongoing efforts to strengthen INNOVATEs balance sheet and improve our capital... More
