Company Secures Key Projects in its Healthcare and Transportation Verticals
PITTSBURGH--(BUSINESS WIRE)-- Limbach Holdings, Inc. (NASDAQ: LMB) (“Limbach”) today announced that it secured four new projects, three of which are in the Company’s Healthcare vertical and one in the Transportation vertical. The Company is immediately commencing preconstruction and related engineering services which will lead to the final contract values, at which time the projects will be formally entered into backlog. Three of the four projects are with repeat customers, reinforcing Limbach’s strategic focus on nurturing strong relationships with building owners. One of the healthcare projects is a large-scale university hospital project, with Limbach bringing in a trusted joint venture partner. Limbach expects the aggregate value of work to be performed over the course of the four projects to total approximately $151 million.
Limbach CEO Charlie Bacon stated, “Limbach continues to shine above our competition, especially in the healthcare market. Our preconstruction and engineering services are a key differentiator for our business and our customers greatly appreciate the value we deliver to help them manage both construction budgets and operational expenses."
Founded in 1901, Limbach is the 9th largest mechanical systems solutions firm in the United States as determined by Engineering News Record. Limbach provides building infrastructure services, with an expertise in the design, installation and maintenance of HVAC and mechanical, electrical, and plumbing systems for a diversified group of commercial and institutional building owners. Limbach employs more than 1,700 employees in 14 offices throughout the United States. The Company’s full life-cycle capabilities, from concept design and engineering through system commissioning and recurring 24/7 service and maintenance, position Limbach as a value-added and essential partner for building owners, construction managers, general contractors and energy service companies.
We make forward-looking statements in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations or forecasts for future events, including, without limitation, our earnings, Adjusted EBITDA, revenues, expenses, capital expenditures or other future financial or business performance or strategies, results of operations or financial condition. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or similar expressions. These forward-looking statements are based on information available to us as of the date they were made and involve a number of risks and uncertainties which may cause them to turn out to be wrong. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Please refer to our Form 10-K filed on April 15, 2019, which is available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this presentation.
The Equity Group Inc.
Jeremy Hellman, CFA
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Source: Limbach Holdings, Inc.
Released June 28, 2019