IES Subsidiary Holdings, Inc., a wholly-owned subsidiary of Integrated Electrical Services, Inc. (IESC) Wednesday announced agreement to acquire MISCOR Group, Ltd. (MIGL) for a consideration of approximately $24 million.
The per-share consideration for MISCOR shareholders is estimated to range between $1.48 and $1.57, subject to adjustment based upon MISCOR's average daily debt balance over the 30-day period ending with the fifteenth complete trading date prior to the closing date.
MISCOR's electromechanical service offerings complement the company's existing industrial while increasing IES's base of recurring revenues.
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