FX.co ★ Limbach Holdings Buys Consolidated Mechanical For $23 Mln, Stock Up

Limbach Holdings, Inc. (LMB) announced on Monday that it has acquired Consolidated Mechanical, Inc., a comprehensive mechanical contracting firm, for an initial sum of $23 million. According to Limbach, the acquisition was financed using existing cash resources. The transaction includes performance-based, contingent earn-outs that could amount to an additional $2 million, potentially payable over the next two years. The company forecasts that the acquisition will begin contributing an estimated $23 million in annual revenue by 2025, with an annual EBITDA of $4 million. Currently, Limbach's shares are trading on the Nasdaq at $106.29, reflecting a 6.93 percent increase.