Legence Completes Acquisition of Bowers

Legence Corp. has completed its previously announced acquisition of The Bowers Group, a mechanical contractor in Beltsville, Maryland. The deal was funded with $325 million in upfront cash, a $200 million term loan upsizing, and approximately 2.55 million shares of Legence Class A common stock, with an additional $50 million in deferred consideration.

“Legence Corp. (Nasdaq: LGN) (“Legence” or the “Company”) today announced that it has completed its previously announced acquisition of The Bowers Group (“Bowers”), a premier mechanical contractor headquartered in Beltsville, Maryland, with over 40 years of proven expertise in delivering high quality mechanical, plumbing, and process system solutions to clients in the Northern Virginia and DC Metro area.”

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