Company: LGN
Filing Date: 2025-11-14
Form Type: 8-K
Source: 0001193125-25-281519
Chunk: 0

Company: Legence Corp.
Filing Date: 2025-11-14
Form: 8-K
Item: Item 1.01
Chunk 0
---
Item 1.01      Entry into a Material Definitive Agreement.  

On November 13, 2025 (the “ Effective Date”), Legence Corp. (the “ Company”) and its wholly owned subsidiary, Legence Subsidiary Holdings, LLC, a Delaware limited liability company (the “ Purchaser”), entered into an Equity Purchase Agreement (the “ Purchase Agreement”) with The Bowers Group, Inc., a Maryland corporation (“ Bowers”), and Wayne E. Bowers Revocable Living Trust, Quiet Harbor Trust and The David O’ Donnell Revocable Trust dated Nov. 15, 2008 (each a “ Seller” and collectively, the “ Sellers”). The Purchase Agreement 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 their equity interests of Bowers (the “ Bowers Interests”) to a newly formed Delaware limited liability company (“ NewCo”), which will be wholly owned by the Sellers and join as a party to the Purchase Agreement (the “ Reorganization”), and (ii) the Purchaser has agreed to purchase from NewCo all of the Bowers Interests. Bowers and its subsidiaries are currently engaged in the business of providing specialty mechanical contracting and services to general contractors and building owners (the “ Business”).

The board of directors of the Company has unanimously approved the Purchase Agreement and the transactions contemplated thereby (collectively, the “ Transaction”).

At the closing of the Transaction (the “ Closing”), on the terms and subject to the conditions set forth in the Purchase Agreement, the Purchaser will acquire all of the outstanding Bowers Interests from NewCo in exchange for: (i) approximately $325 million in cash, subject to certain purchase price adjustments (the “ Cash Consideration”), and (ii) approximately $100 million in the form of the Company’s Class A common stock, par value $0.01 per share (“ Class A Common Stock”), the amount of shares of which will be calculated in accordance with the Reference Price (as defined below), will be subject to applicable restrictive legends pursuant to the Securities Act of 1933, as amended (the “ Securities Act”), and will be subject to a lock-upon transfers, subject to certain exceptions, until (and including) March 10, 2026 (the “ Stock Consideration”).

In addition, on the terms