Company: LGN
Filing Date: 2025-08-15
Form Type: S-1
Source: 0001193125-25-181698
Chunk: 270

Company: Legence Corp.
Filing Date: 2025-08-15
Form: S-1
Chunk 270
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ence” or the “Company”) are a leading provider of engineering, installation and maintenance services for mission-critical systems in buildings. The Company focuses on high-growth sectors that have
technically demanding buildings, including technology, life sciences, healthcare and education. Legence specializes in designing, fabricating and installing complex heating, ventilation and air conditioning (“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. Services are primarily provided on
a fixed price basis.

The Company was formed as a single-member limited liability company under the laws of the State of Delaware on October 30,
2020. Legence is a wholly-owned subsidiary of Legence Intermediate LLC (“Member”) which is a wholly-owned subsidiary of Legence Parent LLC (“Parent”). The powers of Legence will be exercised by the authority of Parent, as the
Company’s ultimate parent. Parent has designated certain individuals as officers of the Company.

Note 2—Summary of Significant Accounting Policies

The Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S.
GAAP”).

Principles of Consolidation

The
Consolidated Financial Statements include the accounts of Legence, its wholly owned subsidiaries and certain Variable Interest Entities (“VIE”) of which the Company is the primary beneficiary. Legence assesses whether it is the primary
beneficiary of a VIE, which is the case if the Company, in combination with its related parties, has both (1) the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and (2) the
obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. When Legence is deemed to be the primary beneficiary, the VIE is consolidated and the equity interest in the VIE held by a third-party is
accounted for as a noncontrolling interest.

For VIEs that are not consolidated, the Company accounts for its investments using the equity method.

All intercompany accounts and transactions have been eliminated.

Please refer to “” for additional information.

Financial statement reclassification

Certain previously
reported amounts have been reclassified to conform to the current year presentation in the Consolidated Financial Statements. Interest expense, net of capitalized interest and Interest income on the Consolidated Statements of Operations were
previously reported on a combined basis, but given