Limbach Upsizes Revolver to $125M, Secures Consent for $25M+ Acquisition

summarizeSummary

Limbach Holdings increased its revolving credit facility to $125 million and secured lender consent to acquire CYMCOR, Inc. for over $25 million, while also lowering interest rate margins.

check_boxKey Events · Financing and Capital Events · LMB

• Revolver Upsized to $125M

  The senior secured revolving credit facility was increased from $100 million to $125 million, providing additional liquidity for acquisitions and working capital.

• Acquisition Consent for CYMCOR

  Lenders consented to the acquisition of CYMCOR, Inc., with total consideration exceeding $25 million, waiving the prior $25 million cap on permitted acquisitions.

• Lower Borrowing Costs

  Applicable margins on SOFR and Prime Rate loans were reduced, with the lowest tier (senior leverage ≤1.0x) now at 1.75% for SOFR loans, down from prior levels.

• Strategic Growth Amid Earnings Pressure

  The acquisition and increased revolver come after a Q1 2026 earnings decline of over 57% in net income and a shift to negative operating cash flow, signaling a push for growth to offset recent weakness.

auto_awesomeAnalysis · LMB · Real Estate & Construction

An amendment to Limbach's credit agreement boosts its revolving credit facility by $25 million to $125 million and secures lender consent for the acquisition of CYMCOR, Inc., a deal with total consideration exceeding $25 million. The amendment also lowers borrowing costs through reduced interest rate margins tied to leverage. This move provides additional liquidity and supports a sizable acquisition, which could be transformative given the company's recent earnings decline and negative operating cash flow.