IES Holdings Expands with Arrow Engine Acquisition
Deal News | Jan 31, 2025 | Globenewswire
In a strategic acquisition, IES Holdings, Inc., a renowned electrical and technology systems provider, has acquired Arrow Engine Company from TriMas Corporation. Arrow Engine, based in Tulsa, Oklahoma, specializes in engine and compressor solutions for the natural gas market. With an estimated revenue of $20 million for 2024, Arrow will integrate into IES's Infrastructure Solutions segment while maintaining its brand name. This acquisition strengthens IES's presence in the oil and gas industry. IES CEO Jeff Gendell has expressed ambitions to invest significantly in Arrow's product line to drive growth. IES Infrastructure Solutions, under the leadership of Mike Rice, looks forward to leveraging combined resources to meet customer demands. The acquisition adds crucial manufacturing capacity to IES, complementing its operations across Ohio, Oklahoma, and Pennsylvania.
Sectors
- Energy
- Manufacturing
- Infrastructure
Geography
- United States – Both IES Holdings and Arrow Engine Company operate within the US, and IES plans to leverage its facilities across several states.
- Oklahoma – Arrow Engine Company is based in Tulsa, Oklahoma, and has a manufacturing facility there.
Industry
- Energy – This acquisition involves Arrow Engine Company, which provides equipment and services to the natural gas production market.
- Manufacturing – Arrow Engine Company has a significant manufacturing facility involved in producing engines and compressors.
- Infrastructure – IES Holdings specializes in providing infrastructure products and services, which are enhanced through this acquisition.
Financials
- $20 million – Estimated revenue for Arrow Engine Company for the calendar year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IES Holdings, Inc. | Acquirer | Company | A provider of integrated electrical and technology systems, IES Holdings operates across multiple sectors. |
| Arrow Engine Company | Target Company | Company | A Tulsa-based company that supplies engines and compressors, primarily for the natural gas market. |
| TriMas Corporation | Vendor | Company | The previous owner of Arrow Engine Company from which IES Holdings acquired it. |
| Jeff Gendell | CEO | Person | Chairman and CEO of IES Holdings, overseeing the acquisition. |
| Mike Rice | President, Infrastructure Solutions | Person | President of IES's Infrastructure Solutions segment, responsible for integrating Arrow into the segment. |