Company: LGN
Filing Date: 2025-04-30
Form Type: DRS/A
Source: 0000950123-25-003868
Chunk: 155

Company: Legence Corp.
Filing Date: 2025-04-30
Form: DRS/A
Chunk 155
---
 45% over the same date last year.

We specialize in designing, fabricating and installing
complex 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. In
2024, we generated 32.5% of our revenues from new building projects and 67.5% of our revenues from retrofits, upgrades and maintenance for existing buildings. Our team includes approximately 1,200 MEP engineers and energy consultants, and
approximately 3,300 HVAC and plumbing service technicians, fitters, electricians and sheet metal workers. Since 2021, we have completed more than 50,000 jobs each year for clients across the United States.

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. 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. 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 values 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 pass the cost of those subcontractors on to our customers. We describe our revenues excluding the cost of these subcontractors as
“Self-Perform Contribution.”

We are headquartered in San Jose