IES Holdings Announces New $300 Million Credit Facility

Core Viewpoint - IES Holdings, Inc. has amended its Credit and Security Agreement, increasing its revolving credit facility from $150 million to $300 million and extending the maturity date to January 21, 2030, transitioning to a cash flow-based facility for enhanced borrowing capacity [1][2]. Group 1: Credit Facility Details - The commitment amount of the revolving credit facility has been increased to $300 million from $150 million [1]. - The maturity date of the credit facility has been extended to January 21, 2030 [1]. - The amended agreement allows for a transition to a cash flow-based facility, which provides increased borrowing capacity compared to the previous asset-based structure [1]. Group 2: Management Commentary - Jeff Gendell, Chairman and CEO of IES, expressed appreciation for the confidence shown by Wells Fargo, Fifth Third, and new banking partners in the company through this larger and more flexible credit facility [2]. - The new facility is expected to strengthen the company's ability to execute its capital allocation strategy, providing liquidity and flexibility for organic growth, acquisitions, share repurchases, and other investment opportunities [2]. Group 3: Company Overview - IES Holdings, Inc. designs and installs integrated electrical and technology systems, providing infrastructure products and services across various end markets, including data centers, residential housing, and commercial and industrial facilities [3]. - The company employs over 9,000 individuals and serves clients throughout the United States [3].