Company: LGN
Filing Date: 2025-08-25
Form Type: S-1/A
Source: 0001193125-25-186788
Chunk: 9

Company: Legence Corp.
Filing Date: 2025-08-25
Form: S-1/A
Chunk 9
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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 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