Tontine Group Updates Significant Stake in IES Holdings

TL;DR

**Tontine Capital Group just reaffirmed its big ownership in IES Holdings.**

AI Summary

Tontine Capital Partners L.P. and its affiliates, including Jeffrey L. Gendell, filed an SC 13D/A on February 16, 2024, updating their beneficial ownership in IES Holdings, Inc. The filing indicates a continued significant stake by the Tontine Group, which includes Tontine Asset Associates, L.L.C. and Tontine Capital Management, L.L.C., in the electrical work company (SIC 1731). This amendment updates previous disclosures regarding their investment in IES Holdings, Inc. (CIK 0001048268).

Why It Matters

This filing signals that a major institutional investor group, Tontine Capital Partners, maintains a substantial interest in IES Holdings, potentially influencing corporate governance or future strategic decisions.

Risk Assessment

Risk Level: low — This is an amendment to a beneficial ownership report, indicating a stable or slightly adjusted position rather than a new, volatile event.

Key Players & Entities

• IES Holdings, Inc. (company) — Subject Company
• Tontine Capital Partners L.P. (company) — Filing Group Member
• Jeffrey L. Gendell (person) — Group Member
• Tontine Capital Management, L.L.C. (company) — Group Member
• February 16, 2024 (date) — Filing Date

FAQ

Filing Documents

• tm246485d1_sc13da.htm (SC 13D/A) — 215KB
• 0001104659-24-024987.txt ( ) — 217KB

From the Filing

SC 13D/A 1 tm246485d1_sc13da.htm SC 13D/A OMB APPROVAL UNITED OMB Number: 3235-0145 SECURITIES AND EXCHANGE COMMISSION Expires: February 28, 2009 Washington, D.C. 20549 Estimated average burden hours per response: 14.5 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 28)* IES Holdings, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 44951W 10 6 (CUSIP Number) Jeffrey L. Gendell 1 Sound Shore Drive, Suite 304 Greenwich, Connecticut 06830 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 12, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. Note : Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 44951W 10 6 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Tontine Capital Partners, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) x (b) ¨ 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ¨ 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power -0- 8. Shared Voting Power 5,642,723 9. Sole Dispositive Power -0- 10. Shared Dispositive Power 5,642,723 11. Aggregate Amount Beneficially Owned by Each Reporting Person: 5,642,723 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨ 13. Percent of Class Represented by Amount in Row (11) 27.9% 14. Type of Reporting Person (See Instructions) PN 2 CUSIP No. 44951W 10 6 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Tontine Capital Management, L.L.C. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 1,910,529 8. Shared Voting Power 5,642,723 9. Sole Dispositive Power 1,910,529 10. Shared Dispositive Power 5,642,723 11. Aggregate Amount Beneficially Owned by Each Reporting Person 7,553,252 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o 13. Percent of Class Represented by Amount in Row (11) 37.4% 14. Type of Reporting Person (See Instructions) OO 3 CUSIP No. 44951W 10 6 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Tontine Management, L.L.C. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) o 6. Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned by Each Reporting Person With 7. Sole Voting Power 1,410,162 8. Shared Voting Power -0- 9. Sole Dispositive Power 1,410,162 10. Shared Dispositive Power -0- 11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,410,162 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) 13. Percent of Class Represented by Amount in Row (11) 7.0% 14. Type of Reporting Person (See Instructions) OO 4 CUSIP No. 44951W 10 6 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Tontine Capital Overseas Master Fund II, L.P. 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) 3. SEC Use Only 4. Source of Funds (See Instructions) WC 5. Check if Disclosure of Le

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