The alignment with Legence establishes a strategic platform for expansion within the market and further strengthens IMD's service and maintenance offerings, fabrication capabilities, and its relationships among Fortune 100 companies. "IMD was being tested by its own success. 70% CAGR the last 4 years and clients needing more. The challenge of supporting that kind of trajectory is not to be taken lightly. Legence has the presence, culture, and competitive fire to meet that challenge," noted Matt Willimas, m ...

Company Overview - Legence is a leading provider of engineering, installation, and maintenance services for mission-critical MEP systems in technically demanding buildings[18] - The company has approximately 1,200 engineers and energy consultants, and around 3,400 technicians and craftspeople[18] - Legence served approximately 19,000 clients since 2019, including over 60% of the Nasdaq-100[18] - Approximately 70% of Legence's revenue comes from existing buildings, with the remaining 30% from new buildings[18] Financial Performance - Legence's Q2 2025 LTM revenues reached $22 billion[18, 20] - The company's Q2 2025 LTM gross profit was $472 million[46, 84] - Adjusted EBITDA for Q2 2025 LTM was $244 million[84] - Legence experienced a 30% CAGR in revenues from 2022 to 2024[84] Growth and Strategy - Approximately 55% of Q2 2025 LTM revenues are from high-growth industries, including data centers & technology and life sciences & healthcare[20] - The company's backlog and awarded contracts as of June 30, 2025, totaled $28 billion[84, 95] - Legence's growth strategy focuses on high-growth end-markets, increasing wallet share with existing clients, bolt-on acquisitions, and increasing recurring revenues from maintenance[39] - The company has a client net revenue retention rate of approximately 121% over the last three years[69]

Core Insights - TECO Electric & Machinery Co., Ltd. has made significant strides in the hyperscale data center sector following its acquisition of Malaysian MEP engineering company NCL Energy, securing projects in Selangor and Johor Bahru with a combined capacity of 178MW and a total value exceeding MYR 170 million (approximately TWD 1.17 billion) [1][2] Group 1: Project Developments - The company is undertaking the Elmina Business Park project in Selangor, focusing on server room installations and hyperscale fiber-optic communication infrastructure [3] - In Johor Bahru, the Sedenak Tech Park project will similarly emphasize fiber-optic solutions for hyperscale data centers [3] - TECO's total installed capacity for data center projects across Taiwan and Southeast Asia has surpassed 700MW [6] Group 2: Technical Capabilities - TECO's Intelligence Energy Business Group is executing a data center MEP project in Singapore, which includes the installation of the world's first 13,864-core hyperscale fiber-optic cable [4] - The company is recognized as an industry expert in fiber connectivity for hyperscale data centers and is dedicated to structured cabling and connection solutions [3][5] Group 3: Strategic Positioning - TECO aims to leverage its international project expertise and strong local teams to deliver reliable, efficient, and flexible one-stop solutions, establishing itself as a leading brand in smart energy and integrated MEP engineering [6] - The company is positioned to capitalize on the growing demand for hyperscale data centers in Southeast Asia, as major global tech giants accelerate their deployment in the region [3]