Pgiam/iStock via Getty Images Investment Thesis IES Holdings, Inc. (NASDAQ:IESC) provides electrical, communications, and infrastructure systems to a broad range of end markets. Headquartered in Houston, Texas, the company operates through four business segments, namely 1) communications, 2) residential, 3) infrastructure solutions, and 4) commercial & industrial. The company's growth model is via organic business expansion and by mining the acquisition pipeline for selective opportunities that either compl ...