IES Holdings (NASDAQ:IESC) announced that STR Mechanical, LLC, a subsidiary within IES’s Commercial & Industrial segment, has acquired all of the membership interests of Technical Services II, LLC
Technical Services will operate as a subsidiary of STR Mechanical within IES's Commercial & Industrial segment, and will continue to operate under the Technical Services name.
Robert Lewey, President of IES, said, “Since acquiring STR Mechanical in April 2016, we have been impressed with the strong mechanical service business that its CEO Keith Moore and President Chris Landreth are building. During this time we have worked with Keith to evaluate a number of acquisition targets to grow this platform, with a focus on businesses that provide comprehensive mechanical maintenance services to customers, often through preventative maintenance agreements. We are pleased this effort has identified Paul Drake, the majority owner and President of Technical Services, and are excited that Paul and his team will become a part of the IES family of companies.”
Keith Moore, CEO of STR Mechanical, added, “Technical Services adds a strong customer base to STR Mechanical and expands our geographic reach into the attractive Chesapeake, Virginia and Richmond, Virginia markets. I look forward to working closely with Paul to further grow and enhance our combined mechanical services offering.”
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