SkyKnight Capital, L.P. acquired 100 % of the membership interests of STR Mechanical, LLC from IES Holdings, Inc. (NasdaqGM:IESC) on October 7, 2022. The acquisition also include Technical Services II, LLC, subsidiary of STR Mechanical, LLC. The final purchase price for STR Mechanical is subject to customary working capital true-up adjustments. During the three months ended December 31, 2022, the sale of assets, including the sale of STR, provided cash in hand of $19.2 million. The disposal of STR Mechanical will not have a material impact on IES Holdings' ongoing results of operations or financial position. FMI Capital Advisors served as the exclusive financial advisor to IES on the transaction.
SkyKnight Capital, L.P. completed the acquisition of 100 % of the membership interests of STR Mechanical, LLC from IES Holdings, Inc. (NasdaqGM:IESC) on October 7, 2022.
IES Holdings, Inc. is a provider of electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products. The Company's Communications segment offers technology infrastructure services, including the design, build, and maintenance of the communications infrastructure within data centers. Its Residential segment offers electrical installation services for single-family housing and multi-family apartment complexes, as well as heating, ventilation and air conditioning (HVAC) and plumbing installation services. Its Infrastructure Solutions segment provides electro-mechanical solutions for industrial operations, including apparatus repair and custom-engineered products. This segment also offers structural steel fabrication and services, with a 450,000 square feet of manufacturing space on a 60-acre campus. Its Commercial & Industrial segment offers electrical and mechanical design, construction, and maintenance services.
IES HOLDINGS, INC. 
