GULF ISLAND FABRICATION (GIFI) Company Report

Brodsky & Smith has initiated an investigation into the proposed acquisition of Gulf Island Inc. (GIFI) by IES Holdings, Inc. (IESC).
Under the terms of the Merger Agreement, Gulf Island shareholders are set to receive $12.00 per share in cash, with an aggregate equity value of approximately $192 million.
The investigation concerns whether the Gulf Island Board breached its fiduciary duties to shareholders by failing to conduct a fair process and if the deal consideration provides fair value.

6 days ago

Gulf Island Fabrication, Inc. Reports Q3 2025 Results and Announces Acquisition by IES Holdings

GIFI

Earnings

M&A

New Projects/Investments

Gulf Island Fabrication, Inc. reported consolidated revenue of $51.5 million and consolidated net income of $1.6 million for the third quarter of 2025.
In November 2025, the company entered into an agreement to be acquired by IES Holdings, Inc., with shareholders set to receive $12.00 per share in cash. The transaction is expected to close in the first quarter of 2026.
The Fabrication division was awarded a contract for large structural steel components to support the rebuild of the Francis Scott Key Bridge.
During the third quarter of 2025, the company repurchased 42,761 shares for $0.3 million at an average price of $6.75 per share, but has suspended further repurchases due to the pending merger agreement.

Nov 12, 2025, 9:08 PM

Gulf Island Fabrication Reports Q3 2025 Results and Announces Acquisition by IES Holdings

GIFI

Earnings

M&A

New Projects/Investments

Gulf Island Fabrication reported consolidated revenue of $51.5 million for the third quarter of 2025, an increase from $37.6 million in the prior year period.
For Q3 2025, consolidated net income was $1.6 million and adjusted EBITDA was $2.5 million, compared to $2.3 million and $2.9 million, respectively, in Q3 2024.
The company announced an agreement in November 2025 to be acquired by IES Holdings, Inc. for $12.00 per share in cash, with the transaction expected to close in the first quarter of 2026.
The Fabrication division was awarded a large structural steel components contract to support the rebuild of the Francis Scott Key Bridge.

Nov 12, 2025, 9:05 PM

Gulf Island Fabrication, Inc. Enters into Merger Agreement with IES Holdings, Inc.

GIFI

M&A

Takeover Bid

Gulf Island Fabrication, Inc. (GIFI) entered into an Agreement and Plan of Merger with IES Holdings, Inc. on November 7, 2025, under which GIFI will become an indirect wholly owned subsidiary of IES.
Under the terms of the merger, each outstanding share of GIFI common stock will be converted into the right to receive $12.00 in cash.
The Company's Board of Directors has approved the merger and recommends shareholder approval.
Certain shareholders have also entered into a Voting and Support Agreement, committing to vote their shares in favor of the merger.
Vested restricted stock units (RSUs) will be settled in cash at $12.00 per RSU within ten business days of vesting.

Nov 10, 2025, 9:16 PM

Gulf Island Fabrication to be Acquired by IES Holdings

GIFI

M&A

IES Holdings, Inc. has entered into a definitive agreement to acquire Gulf Island Fabrication, Inc. for $12.00 in cash per Gulf Island share, representing an aggregate equity value of approximately $192 million.
The acquisition price offers a 52% premium to Gulf Island’s trading price as of November 6, 2025.
The transaction is anticipated to close in the quarter ending March 31, 2026, subject to Gulf Island shareholder approval and regulatory clearances.
Due to the proposed transaction, Gulf Island will not hold an earnings conference call to discuss its financial results for the third quarter ended September 30, 2025.

Nov 7, 2025, 2:01 PM

Gulf Island Awarded Contract for Francis Scott Key Bridge Rebuild

GIFI

New Projects/Investments

Gulf Island Fabrication, Inc. (GIFI) has been awarded a fabrication contract to support the rebuilding of the Francis Scott Key Bridge in Baltimore, Maryland.
The contract is fixed-price with an estimated value in excess of $35 million.
This contract will be included in the Company's new awards and backlog during the third quarter 2025.
Fabrication activities are anticipated to begin in the fourth quarter 2025.