Legence, a Blackstone-backed consultant for construction projects and commercial real estate, acquired two companies: Provident, a Pennsylvania-based energy project management company, and McCracken-Woodman, a California-based plumbing design firm.
Why it matters: Legence (f.k.a Theram Holdings) wants to be a comprehensive firm for commercial real estate customers retrofitting old buildings to become more energy efficient or those building net-zero projects. CEO Jeffrey Sprau tells Axios that it is an "active" buyer with more deals imminent.
