Company: LGN
Filing Date: 2025-12-09
Form Type: S-1
Source: 0001193125-25-312729
Chunk: 96

Company: Legence Corp.
Filing Date: 2025-12-09
Form: S-1
Chunk 96
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 facilities to make them more energy efficient and sustainable.
In 2024, we generated 32.5% of our revenues from new building projects and 67.5% of our revenues from retrofits, upgrades and maintenance for existing buildings. Our team includes approximately 1,200 MEP engineers and energy consultants, and
approximately 3,800 technicians and craftspeople, including HVAC and plumbing service technicians, fitters, electricians and sheet metal workers, of which approximately 570 are responsible for providing maintenance services to over 5,900 clients. We
completed more than 50,000 jobs each year for clients across the United States during the period from 2021 through 2024.

Our clients
include large technology and industrial companies and public sector institutions who contract with us directly to provide services, as well as intermediaries such as architects and general contractors who subcontract MEP services to us as part of a
larger project. We served approximately 19,000 clients from 2019 through 2024. In 2024, we generated less than 2% of our revenues from the federal government. Excluding maintenance contracts which can span multiple years, we typically complete most
of our jobs within six months. Approximately 70% of our revenues over the period from 2021 to 2024 were from jobs that had contract prices of less than $10 million, after giving pro forma effect to acquisitions made over that period. Our
largest client represented approximately 4% of our revenues over the period from 2021 to 2024, after giving pro forma effect to acquisitions made over that period.

60

Recent Developments

Bowers Acquisition

On November 13,
2025 (the “Effective Date”), we and the Purchaser entered into the Purchase Agreement with Bowers and the Sellers, which provides for a series of transactions, on the terms and subject to the conditions set forth therein, whereby
(i) the Sellers will cause Bowers and certain of its subsidiaries to convert into Maryland limited liability companies and the Sellers will contribute 100% of the Bowers Interests to NewCo, which will be wholly owned by the Sellers and join as
a party to the Purchase Agreement, and (ii) Purchaser has agreed to purchase from NewCo all of the interests in Bowers and its subsidiaries. Bowers and its subsidiaries are currently engaged in the business of providing specialty mechanical
contracting and services to general contractors and building owners.

At the Closing, on the terms and subject to the conditions set