Tontine Capital Partners Amends IES Holdings Stake

TL;DR

Tontine Capital Partners filed a 13D/A for IES Holdings, Inc. - watch this space.

AI Summary

On March 15, 2024, Tontine Capital Partners L.P. filed an amendment to its Schedule 13D, disclosing its beneficial ownership of IES Holdings, Inc. The filing indicates a change in the reporting person's holdings, with Jeffrey L. Gendell and various Tontine entities listed as group members. The filing does not specify the exact number of shares or the percentage of ownership, but it signifies an active interest in IES Holdings.

Why It Matters

This filing indicates a change in beneficial ownership for IES Holdings, Inc., potentially signaling strategic shifts or increased investor activity that could influence the company's stock performance.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede significant corporate actions or shifts in control, which can introduce volatility.

Key Players & Entities

• IES Holdings, Inc. (company) — Subject Company
• Tontine Capital Partners L.P. (company) — Reporting Person
• Jeffrey L. Gendell (person) — Group Member
• Tontine Asset Associates, L.L.C. (company) — Group Member
• Tontine Associates, L.L.C. (company) — Group Member
• Tontine Capital Management, L.L.C. (company) — Group Member
• Tontine Capital Overseas GP, L.L.C. (company) — Group Member
• Tontine Capital Overseas Master Fund II, L.P. (company) — Group Member
• Tontine Management, L.L.C. (company) — Group Member

FAQ

Key Financial Figures

• $115.14 — he closing price of the Common Stock of $115.14 as of such date) to satisfy the withhol

Filing Documents

• tm248736d1_sc13da.htm (SC 13D/A) — 158KB
• tm248736d1_ex99-3.htm (EX-99.3) — 55KB
• 0001104659-24-035035.txt ( ) — 216KB

From the Filing

SC 13D/A 1 tm248736d1_sc13da.htm SC 13D/A UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 29)* 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) March 6, 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. * 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 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 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 1,460,506 9. Sole Dispositive Power -0- 10. Shared Dispositive Power 1,460,506 11. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,460,506 12. Check if the Aggregate Amount in Row (11) Excludes

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