IES Holdings (IESC) Acquires Arrow Engine Company

IES Holdings, Inc. (“IES”) (NASDAQ: IESC) announced that it has acquired Arrow Engine Company (“Arrow”), a Tulsa, Oklahoma-based provider of engines, generator sets, compressors, and replacement parts primarily for the natural gas production market, from TriMas Corporation. The acquisition includes Arrow’s owned manufacturing facility in Tulsa, which consists of 130,000 square feet of manufacturing space. Arrow, with estimated calendar year 2024 revenue of $20 million, will become part of IES’s Infrastructure Solutions segment and continue to operate under the Arrow name.

Jeff Gendell, Chairman and Chief Executive Officer, said, “The acquisition of Arrow strategically adds to our product offerings and expands our power services into the oil and gas markets. IES plans to make substantial investments to expand Arrow’s product line and drive long-term growth in both existing and new markets. We are thrilled to welcome Arrow to the IES family.”

Mike Rice, President of IES’s Infrastructure Solutions segment, added, “Arrow brings to IES a strong brand reputation, legacy of innovation, and expertise in stationary engines and gas compression solutions. We are excited to partner with the Arrow team to leverage our combined sales, engineering, and fabrication resources to grow our business and deliver expanded capabilities to our customers. Combined with our existing facilities in Ohio, Oklahoma and Pennsylvania, we have over 1.5 million square feet of manufacturing and fabrication space to meet the evolving needs of our customers.”

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