Company: LGN
Filing Date: 2025-09-02
Form Type: S-1/A
Source: 0001193125-25-193346
Chunk: 163

Company: Legence Corp.
Filing Date: 2025-09-02
Form: S-1/A
Chunk 163
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 $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 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. In certain cases, we manage third-party contractors on behalf of our clients and we may pass those costs on directly to our customers as a specific line item or incorporate them into our overall contract price for
the job. In the years ended December 31, 2024 and 2023, respectively, we paid subcontractors approximately $350.7 million and $234.8 million, respectively, in connection with their work on

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our projects. We also frequently purchase certain equipment that we install in our clients’ buildings. We may pass the cost of equipment on directly to our customers as a specific line item or incorporate the cost into our overall contract price for the job. In the years ended December 31, 2024 and 2023, we spent approximately $457.3 million and $385.8 million, respectively, on equipment for our clients’ projects. We are headquartered in San Jose, California and, as of June 30, 2025, we had approximately 6,000 full