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.
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