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Integrated Electrical Services Announces New Board Members

HOUSTON, Feb. 28, 2012 /PRNewswire/ -- Integrated Electrical Services, Inc. (NASDAQ: IESC) ("IES") today announced the election of Joseph L. Dowling III, age 47, and the appointment of David B. Gendell, age 51, to its Board of Directors.

James M. Lindstrom, Chairman and CEO of IES, stated, "Joe and Dave are strong additions to our board of directors, given their proven investment and corporate governance experience.  As we continue to strengthen and transform our company, we look forward to their guidance and contributions."

Mr. Dowling is the founder and managing member of Narragansett Asset Management, LLC, a private investment partnership located in Stamford, Connecticut.  From its formation in 1998 through 2006, Narragansett managed funds for institutions, pension funds and college endowments.  Since 2006, Narragansett has focused on managing Mr. Dowling's personal capital and that of a select group of strategic investors.  Prior to forming Narragansett, Mr. Dowling worked at The First Boston Corporation, Tudor Investments and Oracle Partners, L.P.  Mr. Dowling is a member of the Advisory Board of Ferrer Freeman & Company, LLC, a private equity firm providing growth capital to healthcare companies. 

Mr. Gendell has over 25 years of operations and consulting experience in a variety of service industries, including healthcare, technology and banking.  Mr. Gendell is currently a partner at Tontine Associates, LLC, the Company's majority stockholder, where he focuses on investment opportunities in industrial, manufacturing and basic materials companies.  From 2006 to 2010, he served on the Board of Directors of Neenah Enterprises, one of the largest independent, publicly-traded foundries in the United States.  Mr. Gendell has also held senior positions at several venture-backed startups.  He was President and Chief Operating Officer of Homserv, LLC, a privately-held data aggregator focused on real estate transactions.  Prior to that, he served as President and Chief Operating Officer of Cogent Design Inc., a privately-held practice management software system.  He also is currently on the Board of Advisors of the Duke Global Health Institute.

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