IES Holdings Acquires 80% Stake in Bayonet Plumbing, Heating & Air-Conditioning
December 21, 2020
IES Holdings, Inc. acquired an 80% ownership interest in Bayonet Plumbing, Heating and Air-Conditioning, LLC, a Hudson, Florida-based residential HVAC and plumbing services provider. The Blankenship family will retain a 20% stake, and Bayonet — with trailing 12-month revenue of about $86 million and over 500 employees — will join IES's Residential segment to expand its Florida footprint and add HVAC and plumbing capabilities.
- Buyers
- IES Holdings, Inc.
- Targets
- Bayonet Plumbing, Heating and Air-Conditioning, LLC
- Sellers
- Robert (Robbie) C. Blankenship, Robert N. Blankenship
- Industry
- HVAC & Mechanical
- Location
- Florida, United States
- Transaction Type
- Buyout
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