Company: LGN
Filing Date: 2025-11-03
Form Type: DRS
Source: 0001193125-25-262782
Chunk: 9

Company: Legence Corp.
Filing Date: 2025-11-03
Form: DRS
Chunk 9
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1

Confidential Treatment Requested by Legence Corp.

Pursuant to 17 C.F.R. Section 200.83

preventative and corrective maintenance services for those systems. Some of our installation clients choose to co-locate our employees at their sites to
perform renovation and upgrade services on an ongoing basis. We have had an on-site presence with some of our clients for more than 20 years. The preventative maintenance work we perform is recurring pursuant
to annual or multi-year contracts. From 2021 to 2024, our Installation & Maintenance segment revenues grew at a compound annual growth rate of approximately 30% and, after giving pro forma effect to acquisitions we made over that period,
approximately 16%. Our Installation & Maintenance segment generated 71.3% and 52.4% of our revenues and gross profit, respectively, in 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 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