IES Holdings Acquires Arrow Engine Company

Core Viewpoint - IES Holdings, Inc. has acquired Arrow Engine Company to enhance its product offerings and expand into the oil and gas markets, with plans for significant investments to drive long-term growth [1][2]. 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 and residential housing, with over 9,000 employees serving clients in the United States [3]. - Arrow Engine Company, established in 1955, specializes in engines, generator sets, compressors, and replacement parts for oilfield and industrial markets [5]. Acquisition Details - The acquisition includes Arrow's manufacturing facility in Tulsa, which spans 130,000 square feet, and is expected to generate estimated revenue of $20 million in calendar year 2024 [1]. - Arrow will operate under its own name as part of IES's Infrastructure Solutions segment, which focuses on electro-mechanical solutions for industrial operations [1][4]. Strategic Intent - The acquisition is intended to leverage Arrow's strong brand reputation and expertise in stationary engines and gas compression solutions, aiming to combine sales, engineering, and fabrication resources to enhance business growth [2]. - IES plans to invest in expanding Arrow's product line to meet evolving customer needs, supported by a combined manufacturing space of over 1.5 million square feet across existing facilities in Ohio, Oklahoma, and Pennsylvania [2].