Legence Buys D.C.-Area Mechanical Contractor
SAN JOSE, Calif. — Legence Corp., which provides engineering, consulting, installation, and maintenance services for building systems, has completed the acquisition of The Bowers Group, a mechanical contractor headquartered in Beltsville, Maryland.
Bowers has more than 40 years of experience in delivering mechanical, plumbing, and process system solutions to clients in Maryland, Northern Virginia, and the Washington, D.C., area.
“We are excited to officially welcome Bowers to the Legence organization and look forward to combining our expertise to enhance our service offering for our valued customers,” said Legence CEO Jeff Sprau in a press release. “The completion of this acquisition marks an important milestone in our growth strategy, and we are confident that, together, we will achieve even greater success.”
The purchase price consisted of an upfront cash consideration of $325 million, which was funded by a combination of cash on hand, borrowings from a revolving line of credit, the $200 million upsizing of Legence’s term loan facility, and the issuance of approximately 2.55 million shares of Legence’s Class A common stock. An additional $50 million in deferred consideration will be paid at the end of 2026, either in cash or in Legence’s Class A common stock, at the company’s discretion.
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