Innovate completes sale of DBM Global stake to IES Holdings

VATE•2026-11-13

Innovate completed the sale of its approximately 91.2% stake in DBM Global to IES Holdings on October 5, 2026, for about $413 million in cash and 430,974 IES shares. It used proceeds to redeem $325 million of 10.50% Senior Secured Notes due 2027, but cash proceeds alone were insufficient to repay debt coming due.

Innovate completes sale of DBM Global stake to IES Holdings

1. Sale and debt redemption

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