Pfingsten Completes Sale of Technibus to IES
Ropes & Gray represented Pfingsten Partners, L.L.C. and Technibus, Inc. in the acquisition of Technibus by IES Infrastructure Solutions, L.L.C., a wholly-owned subsidiary of IES Holdings, Inc. (NASDAQ: IESC). Technibus will continue to operate under the Technibus name.
The sale was announced on June 2 and was completed on June 15.
Headquartered in Canton, Ohio, Technibus is a global leader in the supply of metal enclosed bus systems operating for more than 50 years. Its products include isolated phase bus, non-segregated and segregated bus systems, which it sells to the power generation, distribution, petrochemical, transit, municipal, data center and industrial markets.
The Ropes & Gray team advising Pfingsten and Technibus was led by private equity associate Timothy Castelli (Chicago), and included private equity partner Neill Jakobe (Chicago), tax partner Aaron Harsh (Boston), and real estate & environmental partner Peter Alpert (Boston).