Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 142

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 142
---
 end-markets. As of June 30, 2025, we had $2.8 billion of backlog and
awarded contracts, representing an increase of 29% over the same date last year.

We specialize in designing, fabricating and installing
complex HVAC, process piping and other mechanical, electrical and plumbing (“MEP”) systems for new facilities and upgrading HVAC, lighting and building controls in existing 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 3,400 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.

Approximately 25% of our revenues in 2024 were
generated from clients that engaged us in both our Engineering & Consulting and Installation & Maintenance segments, after giving pro forma effect to acquisitions made over that period. From 2021 to 2024, our revenues that were
generated from clients that engaged us in both segments grew at a compound annual growth rate of approximately 28%, after giving pro forma effect to acquisitions made over that period. Our revenues from clients that engaged us in both our
Engineering & Consulting and Installation & Maintenance segments, after giving pro forma effect to acquisitions made as of December 31, 2024, were approximately $545 million, $463 million, $350 million and
$260 million, respectively, for the years ended December 31, 2024, 2023, 2022 and 2021. Additionally, six of our top ten clients engaged us in both segments during the period from 2021 to 2024, after giving pro forma effect to acquisitions
made over that period. We believe that providing a one-stop solution for engineering, installing and maintaining MEP systems results in lower total cost, fewer change orders and faster turnaround times for our
clients and higher win rates, better customer retention, incremental margin and more recurring revenue for us.

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