Broadwind Sells Texas Facility for Up to $19.5M
Broadwind (BWEN) announced that on April 30, 2026, the company's wholly-owned subsidiary, Broadwind Heavy Fabrications, entered into a definitive agreement with IES Infrastructure, a wholly-owned subsidiary of IES Holdings, Inc. (IESC), under which Heavy Fabrications has sold its production facility in Abilene, Texas, including real property, equipment, machinery and other items, to IES Infrastructure for an aggregate purchase price of up to $19.5M in cash and non-cash consideration in the form of a below market lease, subject to certain purchase price adjustments. At closing, Heavy Fabrications entered into a short-term lease agreement with IES Infrastructure, pursuant to which Heavy Fabrications will lease the Facility and related assets from IES Infrastructure for nominal rent for a term that is expected to end on September 5, 2026, thereby ensuring an orderly transition of Heavy Fabrications' existing customer orders produced at the Facility. Under the Lease, Heavy Fabrications also granted IES Infrastructure an option to purchase certain other manufacturing equipment for an additional purchase price of $500,000 by the end of the lease term. Heavy Fabrications will retain its modular pressure reducing systems business and is expected to relocate those operations to another location by the end of the lease term. The majority of Heavy Fabrications' approximately 140 employees operating the wind tower manufacturing business at the Facility are expected to become employees of IES Infrastructure at the conclusion of the short-term lease agreement term. Given the announced sale of the Abilene Facility, Broadwind has elected to withdraw its full-year 2026 financial guidance issued on March 11, 2026. Accordingly, the Company's previously issued guidance should not be relied upon and is no longer reflective of current expectations.
