Alantra advises The Bowers Group on its sale to Legence Corp. (Nasdaq: LGN)

Nov 2025

Sell-side advisory

Value $475mn

New York, London – Alantra acted as the exclusive sell-side advisor to The Bowers Group, Inc. (“Bowers”), a premier mechanical contractor headquartered in Beltsville, Maryland, on its sale to Legence Corp. (Nasdaq: LGN), a San Jose, CA based leading provider of engineering, consulting, installation, and maintenance services for mission-critical systems in buildings.

Established in 1984, Bowers is a trusted partner to clients in the Northern Virginia and Washington DC Metro region especially for the construction of data centers, healthcare, and other mission-critical facilities. With a team of ~1,700 highly skilled technicians and craftspeople, Bowers is recognized for its excellence in designing, fabricating, installing, and maintaining advanced building systems, and commitment to fostering innovation and maintaining exceptional standards of quality.

Legence specializes in designing, fabricating, and installing complex HVAC, process piping, and other mechanical, electrical and plumbing (MEP) systems—enhancing energy efficiency, reliability, and sustainability in new and existing facilities. Legence also delivers long-term performance through strategic upgrades and holistic solutions. Serving some of the world’s most technically demanding sectors, Legence counts over 60% of the Nasdaq-100 Index among its clients.

The acquisition consideration is approximately $475mn , consisting of $325mn in cash, subject to certain purchase price adjustments, approximately $100mn of Legence’s Class A common stock, and an additional $50mn of deferred consideration to be paid at the end of 2026 in cash or Legence’s Class A common stock, at the Legence’s discretion. The transaction is expected to close in the first quarter of 2026, pending customary closing conditions and regulatory approval.

Aakash Bhasin, Managing Director said: “The Alantra team is deeply honored to have assisted Bowers’ shareholders and team on this important transaction as the company joins the Legence platform after four decades as a privately-owned business. Bowers has set the gold standard for mechanical construction work in “Data Center Alley” and we believe this transaction positions the Company for continued success.”

Wade Aust, Managing Director and Partner added: “The transaction highlights Alantra’s expertise in advising privately held businesses and helping them navigate transaction complexities. We are pleased to have helped the company find the right permanent home which aligns with their culture of excellence and benefits all stakeholders including management, employees, and customers.”