HOUSTON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- IES Holdings, Inc. (NASDAQ: IESC) announced today that it has acquired K.E.P. Electric, Inc., a Batavia, OH-based electrical contractor specializing in the design and installation of electrical systems for single-family housing and multi-family developments. KEP, with four offices serving customers in Ohio and Kentucky, had revenue of approximately $30 million in calendar year 2019. KEP will become part of IES’s Residential segment and operate under the KEP name.
Dwayne Collier, President of IES’s Residential segment, said, “The acquisition of KEP continues our strategy to partner with proven management teams and expand into attractive growth markets. Kevin Padgett, KEP’s founder and President, has built a strong business with a customer-centric focus on quality and execution. I am pleased to welcome Kevin and KEP’s over 80 team members to IES and we are excited to partner with the entire KEP team to take advantage of the growing markets in Greater Cincinnati, Columbus, Dayton, Kentucky and beyond.”
Kevin Padgett added, “After more than 25 years as a family-owned business, we are pleased to continue to drive our business and expand our market presence with the support of KEP’s dedicated team and IES’s financial and operational resources. We are excited to be a part of the IES family and join a company that shares our same long-term commitment to employees and customers.”
ABOUT IES HOLDINGS, INC.
IES is a holding company that owns and manages operating subsidiaries that provide electrical contracting and other infrastructure services to a variety of end markets, including data centers, residential housing, and commercial and industrial facilities. Our approximately 5,500 employees serve clients in the United States. For more information about IES, please visit www.ies-co.com.
ABOUT IES RESIDENTIAL
IES’s Residential segment provides electrical installation services for single-family housing and multi-family apartment complexes. For more information about IES Residential, please visit www.iesresidential.com.
ABOUT K.E.P. ELECTRIC, INC.
KEP, established in 1994, is a single-family and multi-family electrical contractor with operations in the Midwest, including Ohio and Kentucky. For more information about KEP, please visit www.kepelectric.com.
