Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 117

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 117
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 of equipment that we install in our clients’ facilities, including chillers, heat pumps, packaged HVAC systems, pumps, valves and switchgear, primarily in our Installation & Fabrication service line within our Installation & Maintenance segment. We record the amounts we pay for equipment in our cost of revenue. We may pass both subcontractor and equipment costs on directly to our customers as a specific line item or incorporate them into our overall price for the job. Variability in the amount of subcontracting that we do, subcontractor pricing, equipment purchases, including equipment that is fabricated in-house,and associated markups can impact our margins. Generally, these markups may not be as large as the markup on our labor and, therefore, the volume of subcontractor and equipment costs can also impact our margins. The following table presents our subcontractor and equipment expenses (dollars in thousands):

|                       |     | 2024 | For the Three Months 
       Ended June 30, |     | 2025 |         |     | 2024 | For the Six Months 
     Ended June 30, |     | 2025 |         |     | 2022 | For the Year Ended December 31, |     | 2023 |         |     | 2024 |         |
|:----------------------|:----|:-----|---------------------:|:----|:-----|--------:|:----|:-----|-------------------:|:----|:-----|--------:|:----|:-----|--------------------------------:|:----|:-----|--------:|:----|:-----|--------:|
| Subcontractor Expense |     | $    |               87,634 |     | $    | 116,083 |     | $    |            143,273 |     | $    | 187,666 |     | $    |                         199,876 |     | $    | 234,837 |     | $    | 350,719 |
| Equipment Expense     |     | $    |              119,722 |     | $    | 124,721 |     | $    |            226,217 |     | $    | 234,323 |     | $    |                         295,220 |     | $    | 385,770 |     | $    | 457,293 |

Acquisitions We have a pipeline of acquisition opportunities and intend to continue to pursue acquisitions as part of our strategy to increase our scale