Related Party Transactions |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2026 | |||
| Related Party Transactions [Line Items] | |||
| Related Party Transactions |
Transactions with a Minority Investor Prior to the IPO and the related liquidation of SOLV Energy Parent Holdings LP, on December 20, 2025, SOLV Energy Parent Holdings LP redeemed the units held by a minority investor in exchange for a $112,500 note secured by a first priority lien on all of SOLV Energy Parent Holdings LP’s assets, including its equity interests in Holdings. The note was subsequently settled in January 2026 using cash on hand distributed upstream to SOLV Energy Parent Holdings LP from Holdings. Transactions with American Securities We were party to certain management consulting agreements with American Securities (“Consulting Agreements”), pursuant to which American Securities agreed to provide us certain management and legal services. We were required to pay American Securities an annual fee to $3,000, payable in equal quarterly cash installments. The Consulting Agreements were terminated in connection with the consummation of the IPO and Reorganization, and no further amounts are payable to American Securities. Payments made under the consulting agreements, including reimbursable expenses, were $0 and $750 during the three and six months ended June 30, 2026, respectively, and $1,204 and $1,954 during the three and six months ended June 30, 2025, respectively. These amounts are included in “Selling, general and administrative expenses”. In connection with the redemption of the minority investor units noted above, SOLV Energy, LLC entered into a loan agreement, dated as of January 5, 2026, with affiliated funds of American Securities. The loan agreement was terminated on February 12, 2026 in connection with the IPO. Secondary Offering In June 2026, a secondary public offering was completed with certain selling stockholders for 8,853,170 shares of our Class A common stock. We did not receive any proceeds from the sale of our Class A common stock by the selling stockholders. We bore the costs associated with the sale of shares of Class A common stock by the selling stockholders, other than underwriting discounts and commissions from the shares sold by the selling stockholders, which were approximately $1,273 and were included in “Selling, general and administrative expenses” . |