Legence Corp. filed an 8-K/A providing audited consolidated financial statements of The Bowers Group, Inc. and subsidiaries for years ended September 30, 2025 and 2024, auditor consent, and unaudited pro forma condensed combined financial statements reflecting the acquisition completed on January 2, 2026.
Key takeaways
Acquisition of The Bowers Group, Inc. completed January 2, 2026 for $291.4M cash, 2,551,672 Legence Class A shares ($98.6M fair value), and $44.9M deferred consideration
Bowers FY2025 revenue $766,995,789 (up from $554,791,720 in FY2024), net income $68,618,086 (up from $48,373,380)
Bowers total assets $285,270,043 as of September 30, 2025 (up from $199,062,683 in 2024)
Pro forma combined revenue for nine months ended September 30, 2025: $2,450,419 thousand
Pro forma net income attributable to Legence for nine months ended September 30, 2025: $18,389 thousand
Incremental term loan of $200.0M drawn at acquisition closing to fund cash consideration