Acquisition of 1901 Inc.

Limbach Holdings, Inc. announced the closing of its acquisition of Madison, Wisconsin-based mechanical contractor, 1901 Inc., for an initial purchase price of $63.0 million. The payment was made through a combination of cash and borrowings under the company's expanded revolving credit facility. The deal also includes performance-based earnouts of up to $6.0 million, payable over the next two years upon achievement of specified performance targets. This acquisition is expected to increase Limbach's scale in the Midwest, establish its largest electrical operation to date, and add capabilities across mechanical, plumbing, controls, fabrication, service, and underground utility solutions. 1901 Inc. brings approximately 450 employees and strengthens Limbach's position in healthcare, higher education, industrial, and cultural facilities, while also opening opportunities in advanced manufacturing, life sciences, and technology. The company anticipates that 1901 Inc. will contribute approximately $140 million in revenue and $11 million in adjusted EBITDA for the full year 2027.