Limbach Holdings Buys Consolidated Mechanical For $23 Mln, Stock Up

(RTTNews) - Limbach Holdings, Inc. (LMB), Monday announced the acquisition of Consolidated Mechanical, Inc., a full-service mechanical contractor, for an initial price of $23 million.

Limbach added that the acquisition was funded from existing cash. The deal has performance-based, contingent earn-outs totaling up to $2 million, which would potentially be payable over the next two years.

The company expects the acquisition to contribute annualized revenue of approximately $23 million beginning in 2025, and EBITDA of $4 million per annum.

Currently, Limbach's stock is trading at $106.29, up 6.93 percent on the Nasdaq.