| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies |
| Integrated Electrical Services, Inc. |
| 2301 Preston, Houston, TX 77003 * (713) 222-1875 |
| The company was founded in June 1997 to create a leading national provider of electrical contracting and maintenance services to the commercial, industrial and residential markets. |
| Manager | Tier | Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Donaldson, Lufkin & Jenrette Securities Corp. | Co-manager | (212) 371-0641 |
| Equitable Securities Corporation | Co-manager | (615) 780-9380 |
| Sanders Morris Mundy Inc. | Co-manager | (713) 250-4281 |
| NASNTL: | IEE | Construction: | SIC 1731 | |
| Type of Shares: | Common Shares | Filing Date: | 10/24/97 | |
| U.S. Shares: | 7,000,000 | Offer Date: | 1/26/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $13.00 - $15.00 | |
| Primary Shares: | 7,000,000 | Offer Price: | $13.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.91 | |
| Offering Amount: | $98,000,000 | Selling: | $0.55 | |
| Expenses: | $0 | Reallowance: | $0.10 | |
| Post-IPO Shares: | 23,365,337 | |||
| Employees: | 3550 |
| Issuer's Law Firm: | Andrews & Kurth |
| Bank's Law Firm: | Vinson & Elkins |
| Registrar/Transfer Agent: | Harris Trust & Savings Bank |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Audited Income | Balance Sheet | ||
| 9/30/96 | 6/30/97 | 6/30/97 | |||
| Revenue: | $272.24 | $226.21 | Assets: | $199.25 | |
| Net Income: | $13.98 | $10.90 | Curr Assets: | ||
| EPS: | $0.64 | $0.50 | Liabilities: | $123.57 | |
| Prior EPS: | Curr Liab: | ||||
| Cash Flow/Oper: | Equity: | $75.67 | |||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | Working Cap: | -$36.12 | |||
| Competition |
| The electrical contracting industry is highly competitive and is served by small, owner-operated private companies, public companies and several large regional companies. Additionally, the Company could face competition in the future from other competitors entering the market, including public utilities. Certain of the Company's larger competitors offer a greater range of services, such as mechanical construction, plumbing and heating, ventilation and air conditioning services. In certain geographic regions, the Company may not be eligible to compete for certain contracts because its employees are not subject to collective bargaining arrangements. See "Business -- Industry Overview -- Industry Developments." Competition in the electrical contracting industry depends on a number of factors, including price. Certain of the Company's competitors may have lower overhead cost structures and may, therefore, be able to provide their services at lower rates than the Company. |
| Business Plan |
| The Company believes that its size, geographical diversity of operations, industry relationships, expertise in specialized markets, number of licensed electricians and access to design technology give the Company significant competitive advantages in the electrical contracting and maintenance services industry. Through increased size, the Company believes it will have greater ability to compete for larger jobs that require greater technical expertise, personnel availability and bonding capacity, to more effectively allocate and share resources in serving customers in each of its markets and to attract, train and retain qualified electricians. The Company also believes that increased size will provide increased efficiency in materials purchasing, computer system development, employee benefits, bonding, insurance and financing. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of the Acquisitions Consideration, to repay certain indebtedness of the Founding Companies, to use for working capital and for general corporate purposes which are expected to include acquisitions. |
| Name of Shareholder | % Owned Before | % Owned After |
| C. Byron Snyder | 0.11 | |
| Jerry Mills | 0.10 | |
| Bob Weik | 0.06 | |
| Ben L. Mueller | 0.06 |
| Officer Name | Title | Age |
| C. Byron Snyder | Chairman of the Board of Directors | 49 |
| Robert Stalvey | President of Ace Electric, Inc., and Director | 47 |
| Bob Weik | President of BW Consolidated, Inc., and Director | 62 |
| Richard Muth | President of Muth Electric, Inc., and Director | 50 |
| Jon Pollock | President, Chief Executive Officer and Director | 51 |
| Jim P. Wise | Senior Vice President and Chief Operating Officer -- Commercial and Industrial and Director | 54 |
| Ben L. Mueller | Senior Vice President and Chief Operating Officer -- Residential and Director | 50 |
| John S. Stanfield | Vice President -- Mergers and Acquisitions | 42 |
| D. Merril Cummings | Vice President -- Mergers and Acquisitions | 36 |
| J. Paul Withrow | Vice President and Chief Accounting Officer | 32 |