8-K
IES Holdings, Inc. (IESC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CurrentReport
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 18, 2020
IES Holdings, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-13783 | 76-0542208 |
|---|---|---|
| (State or Other Jurisdiction<br><br><br>of Incorporation) | (Commission<br><br><br>File Number) | (I.R.S. Employer<br><br><br>Identification Number) |
5433 Westheimer Road, Suite 500, Houston, Texas 77056
(Address of Principal Executive Offices)
Registrant’s telephone number, including area code: (713) 860-1500
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17<br>CFR 240.14a-12) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| --- | --- |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| --- | --- |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br><br><br>Symbol(s) | Name of each exchange<br><br><br>on which registered |
|---|---|---|
| Common Stock, par value $0.01 per share | IESC | NASDAQ Global Market |
| Rights to Purchase Preferred Stock | IESC | NASDAQ Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01. Regulation FD Disclosure.
On February 18, 2020, IES Holdings, Inc. (the “Company”) issued a press release announcing that its subsidiary IES Residential, Inc. has acquired, as of February 18, 2020, all of the equity interests in Aerial Lighting & Electric, Inc., a Naugatuck, CT-based electrical contractor specializing in the design and installation of electrical systems for multi-family developments.
The information set forth herein is furnished pursuant to Item 7.01–Regulation FD Disclosure and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of such section nor shall the information be deemed incorporated by reference in any filing of the Company.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit<br>Number | Description |
|---|---|
| Exhibit 99.1 | Press release dated February 18, 2020. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| IES HOLDINGS, INC. | |
|---|---|
| Date: February 18, 2020 | /s/ Mary K. Newman |
| Mary K. Newman | |
| General Counsel & Corporate Secretary |
EX-99.1
Exhibit 99.1

| Contact: Gary S. Matthews, CEO |
|---|
| IES Holdings, Inc.<br><br><br>713-860-1500 |
FOR IMMEDIATE RELEASE
IES Holdings Acquires Aerial Lighting & Electric
HOUSTON—February 18, 2020—IES Holdings, Inc. (or “IES”) (NASDAQ: IESC) announced today that it has acquired all of the equity interests in Aerial Lighting & Electric, Inc. (“Aerial”), a Naugatuck, CT-based electrical contractor specializing in the design and installation of electrical systems for multi-family developments, with revenues of approximately $24 million in calendar year 2019. Aerial will become part of IES’s Residential segment and continue to operate under the Aerial name.
Dwayne Collier, President of IES’s Residential segment, said, “The acquisition of Aerial reinforces our strategy to partner with strong management teams in attractive markets. I am pleased to welcome to IES Paul Simko, who has been the majority-owner of Aerial since 1994, and Bob Carlson, who will be promoted to Vice President, General Manager and lead Aerial post-closing, as well as Aerial’s over 60 team members. We are excited to work with the entire Aerial team to strengthen and expand our combined presence in the Northeast and Mid-Atlantic.
Paul Simko, CEO of Aerial, added, “Aerial owes its success to its dedicated employees, many of whom I’ve known and worked with for decades. Partnering with IES offers Aerial the opportunity to join a company that not only shares our same long-term commitment to employees and customers, but also provides Aerial with deep industry expertise and the financial resources necessary to meet our expansion goals.”
ABOUT IES HOLDINGS, INC.
IES is a holding company that owns and manages operating subsidiaries that provide electrical contracting and other infrastructure services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our approximately 5,500 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.
ABOUT IES RESIDENTIAL
IES’s Residential segment provides electrical installation services for single-family housing and multi-family apartment complexes. For more information about IES Residential, please visit www.iesresidential.com.
ABOUT AERIAL LIGHTING & ELECTRIC, INC.
Aerial, established in 1985, is a multi-family electrical contractor with operations in the Northeast and Mid-Atlantic regions. For more information about Aerial, please visit www.aerialelectric.com.
Certainstatements in this release may be deemed “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, all of which are based upon variousestimates and assumptions that the Company believes to be reasonable as of the date hereof. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “could,” “should,”“expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,”“continue,” the negative of such terms or other comparable terminology. These statements involve risks and uncertainties that could cause the Company’s actual future outcomes to differ materially from those set forth in suchstatements. Such risks and uncertainties include, but are not limited to, the ability of our controlling shareholder to take action not aligned with other shareholders; the possibility that certain tax benefits of our net operating losses may berestricted or reduced in a change in ownership or a change in the federal tax rate; the potential recognition of valuation allowances or write-downs on deferred tax assets; the inability to carry out plans and strategies as expected, including ourinability to identify and complete acquisitions that meet our investment criteria in furtherance of our corporate strategy, or the subsequent underperformance of those acquisitions; competition in the industries in which we operate, both from thirdparties and former employees, which could result in the loss of one or more customers or lead to lower margins on new projects; fluctuations in operating activity due to downturns in levels of construction or the housing market, seasonality anddiffering regional economic conditions; and our ability to successfully manage projects, as well as other risk factors discussed in this document, in the Company’s annual report on Form 10-K for the yearended September 30, 2019 and in the Company’s other reports on file with the SEC. You should understand that such risk factors could cause future outcomes to differ materially from those experienced previously or those expressed in suchforward-looking statements. The Company undertakes no obligation to publicly update or revise any information, including information concerning its controlling shareholder, net operating losses, borrowing availability, or cash position, or anyforward-looking statements to reflect events or circumstances that may arise after the date of this release.
Forward-looking statements areprovided in this press release pursuant to the safe harbor established under the Private Securities Litigation Reform Act of 1995 and should be evaluated in the context of the estimates, assumptions, uncertainties, and risks described herein.
General information about IES Holdings, Inc. can be found at http://www.ies-co.com under “InvestorRelations.” The Company’s annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K,as well as any amendments to those reports, are available free of charge through the Company’s website as soon as reasonably practicable after they are filed with, or furnished to, the SEC.