Benzinga | Jun 11, 2021 08:02AM EDT

IES Holdings Reports Purchase Of Ownership Interest In Mechanical Services Business, No Terms Disclosed

IES Holdings, Inc. ("IES") (NASDAQ:IESC) announced today that it has acquired the remaining 20% ownership interest in STR Mechanical, LLC ("STR"), a Charlotte, North Carolina-based provider of commercial and industrial mechanical services. IES had previously acquired an 80% interest in STR in 2016. STR and its subsidiary Technical Services II, LLC provide heating, ventilation and air conditioning (HVAC) maintenance, repair, and replacement services as well as temperature control system installations throughout the Carolinas and Virginia.

Jeff Gendell, Chairman and Chief Executive Officer, said, "I want to thank Keith Moore, STR's former CEO, for his contributions and we are pleased to continue to partner with Chris Landreth, President of STR, and the rest of the STR team, led by CEO Mike Ditty. We are focused on growing our mechanical services business organically and through acquisitions, with a continued focus on expanding our preventive and emergency services and renovation and retrofit capabilities."