Limbach Holdings, Inc.

Limbach Holdings, Inc. is a building systems solutions firm that designs, delivers, and maintains mechanical (heating, ventilation, and air conditioning), electrical, plumbing, and controls (MEPC) systems. The company partners with building owners and operators of mission-critical facilities in healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets. Headquartered in Warrendale, Pennsylvania, Limbach Holdings has approximately 1,500 team members across 21 offices in the Eastern and Midwestern United States. The company provides customized MEPC infrastructure solutions for both operational and capital project needs. Limbach Holdings operates in two segments: Owner Direct Relationships (ODR) and General Contractor Relationships (GCR). The ODR segment involves projects and services, primarily on MEPC systems, and specialty contracting projects performed directly for, or assigned by, building owners or operators of existing buildings. The GCR segment focuses on new construction or renovation projects, primarily involving MEPC systems, awarded by general contractors or construction managers. The company's work is primarily performed under fixed-price, modified fixed-price, and time and materials contracts, typically lasting less than two years. In 2025, Limbach Holdings reported record annual revenue of $646.8 million and record annual gross profit of $169.3 million. Revenue from the ODR segment increased by 40.6% (versus 2024), reaching 75.1% of total consolidated revenue, meeting its target of 70% - 80%. Diluted earnings per share increased by 25.7% (versus 2024) to $3.23. The company generated $45.7 million of net cash from operating activities and completed the acquisition of Pioneer Power, LLC.