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v3.26.1

Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Consideration Transferred | Total consideration transferred of $21.5 million for the 2025 acquisitions consists of the following (in thousands):
| IMD |  | Other 2025 Acquisition |  | Total
Cash | $ | 9,302 |  |  | $ | 6,818 |  |  | $ | 16,120 |
Issuance of Legence Corp. Class A Common Stock | 3,589 |  |  | 449 |  |  | 4,038 |
Holdback | 1,000 |  |  | 341 |  |  | 1,341 |
Purchase price receivable | (37) |  |  | — |  |  | (37) |
Total consideration transferred | $ | 13,854 |  |  | $ | 7,608 |  |  | $ | 21,462 |
Total consideration transferred of $459.9 million for the 2026 acquisitions consists of the following, subject to customary post‑closing purchase price adjustments (in thousands):
| Bowers |  | Metrix |  | Total
Cash | $ | 283,104 |  |  | $ | 25,181 |  |  | $ | 308,285 |
Issuance of Legence Corp Class A Common Stock | 98,635 |  |  | 7,802 |  |  | 106,437 |
Deferred consideration | 44,941 |  |  | — |  |  | 44,941 |
Holdback | — |  |  | 250 |  |  | 250 |
Total consideration transferred | $ | 426,680 |  |  | $ | 33,233 |  |  | $ | 459,913 |
Total consideration transferred of $243.7 million for the 2024 acquisitions consists of the following (in thousands):
| P2S |  | AMA |  | Other 2024 Acquisition |  | Total
Cash | $ | 62,520 |  |  | $ | 154,916 |  |  | $ | 3,203 |  |  | $ | 220,639 |
Parent issuance of Parent interests | 20,719 |  |  | — |  |  | 1,381 |  |  | 22,100 |
Holdback | — |  |  | 983 |  |  | — |  |  | 983 |
Total consideration transferred | $ | 83,239 |  |  | $ | 155,899 |  |  | $ | 4,584 |  |  | $ | 243,722 |
Total consideration transferred of $188.5 million for the 2023 acquisitions consists of the following (in thousands):
| San Jose Boiler |  | A.O. Reed |  | OCI |  | Other 2023 Acquisition |  | Total
Cash | $ | 9,888 |  |  | $ | 99,691 |  |  | $ | 24,453 |  |  | $ | — |  |  | $ | 134,032 |
Parent issuance of Parent interests | — |  |  | 33,333 |  |  | 4,018 |  |  | — |  |  | 37,351 |
Contingent consideration (earnout) | — |  |  | 11,529 |  |  | 2,400 |  |  | — |  |  | 13,929 |
Promissory notes due to seller | 3,150 |  |  | — |  |  | — |  |  | — |  |  | 3,150 |
Total consideration transferred | $ | 13,038 |  |  | $ | 144,553 |  |  | $ | 30,871 |  |  | $ | — |  |  | $ | 188,462 |
Schedule of Asset and Liabilities | A summary of the purchased assets and liabilities for the 2025 acquisitions acquired at their fair value was as follows (in thousands):
| IMD |  | Other 2025 Acquisition |  | Total
Cash | $ | — |  |  | $ | 76 |  |  | $ | 76 |
Accounts receivable | 3,293 |  |  | 989 |  |  | 4,282 |
Contract assets | 419 |  |  | 225 |  |  | 644 |
Prepaid expenses and other current assets | — |  |  | 3 |  |  | 3 |
Property and equipment | 1,318 |  |  | 23 |  |  | 1,341 |
Operating lease right-of-use assets | 634 |  |  | 121 |  |  | 755 |
Goodwill | 3,232 |  |  | 3,139 |  |  | 6,371 |
Intangible assets | 7,690 |  |  | 4,070 |  |  | 11,760 |
Other assets | — |  |  | 8 |  |  | 8 |
| 16,586 |  |  | 8,654 |  |  | 25,240 |
Accounts payable | (1,100) |  |  | (64) |  |  | (1,164) |
Accrued compensation and benefits | (215) |  |  | (74) |  |  | (289) |
Accrued and other current liabilities | (152) |  |  | (18) |  |  | (170) |
Contract liabilities | (631) |  |  | (769) |  |  | (1,400) |
Current portion of operating lease liabilities | (238) |  |  | (104) |  |  | (342) |
Operating lease liabilities, net of current portion | (396) |  |  | (17) |  |  | (413) |
| (2,732) |  |  | (1,046) |  |  | (3,778) |
Net acquired assets | $ | 13,854 |  |  | $ | 7,608 |  |  | $ | 21,462 |
A summary of the purchased assets and liabilities for the 2024 acquisitions acquired at their fair value was as follows (in thousands):
| P2S |  | AMA |  | Other 2024 Acquisition |  | Total
Cash | $ | 1,330 |  |  | $ | 2,578 |  |  | $ | — |  |  | $ | 3,908 |
Accounts receivable | 16,843 |  |  | 27,123 |  |  | — |  |  | 43,966 |
Contract assets | 6,254 |  |  | 5,521 |  |  | 11 |  |  | 11,786 |
Prepaid expenses and other current assets | 1,532 |  |  | 506 |  |  | — |  |  | 2,038 |
Property and equipment | 5,074 |  |  | 2,605 |  |  | — |  |  | 7,679 |
Operating lease right-of-use assets | 19,746 |  |  | 3,537 |  |  | — |  |  | 23,283 |
Goodwill | 28,193 |  |  | 96,643 |  |  | 1,685 |  |  | 126,521 |
Intangible assets | 37,800 |  |  | 46,250 |  |  | 3,020 |  |  | 87,070 |
Other assets | 340 |  |  | 12,377 |  |  | — |  |  | 12,717 |
| 117,112 |  |  | 197,140 |  |  | 4,716 |  |  | 318,968 |
Accounts payable | (53) |  |  | (8,891) |  |  | (33) |  |  | (8,977) |
Accrued compensation and benefits | (3,963) |  |  | (4,129) |  |  | — |  |  | (8,092) |
Accrued and other current liabilities | (3,966) |  |  | (2,831) |  |  | — |  |  | (6,797) |
Contract liabilities | (6,238) |  |  | (9,443) |  |  | (96) |  |  | (15,777) |
Current portion of operating lease liabilities | (1,313) |  |  | (850) |  |  | — |  |  | (2,163) |
Current portion of long-term debt | — |  |  | (316) |  |  | — |  |  | (316) |
Operating lease liabilities, net of current portion | (18,288) |  |  | (2,947) |  |  | — |  |  | (21,235) |
Long-term debt, net of current portion | — |  |  | (65) |  |  | — |  |  | (65) |
Other long-term liabilities | — |  |  | (11,769) |  |  | — |  |  | (11,769) |
Deferred tax liabilities, net | (52) |  |  | — |  |  | (3) |  |  | (55) |
| (33,873) |  |  | (41,241) |  |  | (132) |  |  | (75,246) |
Net acquired assets | $ | 83,239 |  |  | $ | 155,899 |  |  | $ | 4,584 |  |  | $ | 243,722 |
Finite-lived intangible assets that are being amortized using the straight-line method over their estimated lives at the applicable acquisition dates in 2024 consist of the following (in thousands, except weighted-average useful lives):
| P2S |  | AMA |  | Other 2024 Acquisition |  | Total |  | Weighted- average Useful Life (in years)
Customer relationships | $ | 27,600 |  |  | $ | 42,000 |  |  | $ | 2,850 |  |  | $ | 72,450 |  |  | 10.4
Trade names | 4,900 |  |  | — |  |  | — |  |  | 4,900 |  |  | 11.8
Contract backlog | 5,300 |  |  | 4,250 |  |  | 170 |  |  | 9,720 |  |  | 1.4
| $ | 37,800 |  |  | $ | 46,250 |  |  | $ | 3,020 |  |  | $ | 87,070 |  |  |
Business Combination, Intangible Asset, Acquired, Finite-Lived and Indefinite-Lived | Finite-lived intangible assets that are being amortized using the straight-line method over their estimated lives at the applicable acquisition dates in 2025 consist of the following (in thousands, except weighted-average useful lives):
| IMD |  | Other 2025 Acquisition |  | Total |  | Weighted- average Useful Life (in years)
Customer relationships | $ | 5,040 |  |  | $ | 3,250 |  |  | $ | 8,290 |  |  | 8.3
Trade names | 1,900 |  |  | — |  |  | 1,900 |  |  | 9.3
Contract backlog | 750 |  |  | 820 |  |  | 1,570 |  |  | 1.7
| $ | 7,690 |  |  | $ | 4,070 |  |  | $ | 11,760 |  |  |
Schedule of Supplemental Pro Forma Information | The following unaudited supplemental pro forma results of operations for Legence are presented as if 2024 acquisitions had been consummated on January 1, 2023 and 2023 acquisitions had been consummated on January 1, 2022. These unaudited supplemental pro forma results are provided for illustrative purposes only and may not be indicative of the actual results that would have been achieved by the combined companies or the future results of the combined companies (in thousands).
| Year Ended December 31,
| 2024 |  | 2023
Revenue | $ | 2,151,196 |  |  | $ | 1,985,764 |
Net loss attributable to Legence | $ | (18,156) |  |  | $ | (69,498) |

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