Limbach Closes $63M Acquisition of 1901 Inc., Adds $140M Revenue and $11M EBITDA for 2027
LMB is trading near its 52-week low of $40.74 (1.3% above the low).
Summary
Limbach closed its $63 million acquisition of 1901 Inc., a Wisconsin MEP contractor, funded with cash and revolver borrowings. The deal is expected to add $140 million in revenue and $11 million in adjusted EBITDA in 2027.
Key Events · M&A and Partnerships · LMB
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Acquisition of 1901 Inc. Closed
Limbach completed the $63 million acquisition of Madison, Wisconsin-based MEP contractor 1901 Inc., funded through available cash and borrowings under its recently expanded revolving credit facility.
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2027 Financial Contribution Guidance
1901 is expected to contribute approximately $140 million in revenue and $11 million in adjusted EBITDA for full-year 2027, with additional details to be provided in Q3 2026 results in November.
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Earnout Structure
The transaction includes performance-based earnouts of up to $6 million, payable over the next two years upon achievement of specified performance targets.
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Strategic Expansion
1901 brings approximately 450 employees, including more than 350 field professionals, and establishes Limbach's largest electrical operation to date, strengthening its Midwest footprint.
Analysis · LMB · Real Estate & Construction
Limbach completed its $63 million acquisition of 1901 Inc., a Wisconsin-based MEP contractor, funded through cash and its recently expanded revolving credit facility. The deal adds approximately 450 employees and is expected to contribute $140 million in revenue and $11 million in adjusted EBITDA in 2027. This is the second acquisition in under a month following the $30 million CYMCOR deal, signaling an aggressive expansion strategy despite the company's recent Q2 revenue miss and guidance cut. The transaction strengthens Limbach's Midwest presence and adds its largest electrical operation to date, but it also increases leverage at a time when the stock trades near its 52-week low.
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At the time of this filing, LMB was trading at $41.26 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $491.5M. The 52-week trading range was $40.74 to $123.00. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.