Limbach Holdings Acquires Industrial Air (Greensboro, NC)

Limbach Holdings Acquires Pioneer Power, Inc.

July 1, 2025

HVAC & Mechanical

Limbach Holdings, Inc. (Nasdaq: LMB) acquired Pioneer Power, Inc., a full-service mechanical contractor serving the Upper Midwest, for $66.1 million in cash and borrowings. The deal expands Limbach’s footprint and industrial mechanical capabilities in the Upper Midwest and is expected to contribute approximately $120 million of annualized revenue and $10 million of adjusted EBITDA beginning in 2026.

Limbach Holdings Acquires Kent Island Mechanical

September 3, 2024

Construction

Limbach Holdings, Inc. (Nasdaq: LMB) has acquired Kent Island Mechanical, LLC (KIM) for an initial purchase price of $15 million, with up to $5 million in performance-based earn-outs. The acquisition expands Limbach's mechanical/HVAC and plumbing capabilities and Mid-Atlantic footprint, and KIM is expected to contribute about $30 million in revenue and over $4 million in EBITDA annually beginning in 2025. Founder Mark Bowen retired at closing and some KIM leadership (including Director of Operations Kyle Benjamin) will join Limbach's Mid-Atlantic leadership team.

Limbach Holdings Acquires Consolidated Mechanical (CMI) for $23M

December 2, 2024

Industrial Services

Limbach Holdings, Inc. (Nasdaq: LMB) acquired Consolidated Mechanical, Inc. (CMI) for an initial purchase price of $23 million with up to $2 million in contingent earn-outs. CMI, founded in Owensboro, Kentucky, is expected to contribute roughly $23 million of annualized revenue and $4 million of EBITDA beginning in 2025, expanding Limbach's industrial services footprint in Kentucky, Michigan, and Illinois and adding capabilities in power generation, food processing, manufacturing and metals markets.

Limbach Holdings Acquires Jake Marshall, LLC

December 3, 2021

Construction

Limbach Holdings, Inc. (Nasdaq: LMB) completed the acquisition of Chattanooga-based specialty mechanical contractor Jake Marshall, LLC for an enterprise value of $20 million in an all-cash transaction. Jake Marshall, which generated average revenues of more than $45 million and approximately $4.5 million in EBITDA (2014–2020), expands Limbach’s owner-direct industrial and institutional capabilities and southeastern U.S. presence.

BGIS (CCMP Portfolio) Acquires Millian-Aire Enterprises

April 5, 2022

HVAC & Mechanical

BGIS, a facilities-management platform backed by CCMP Capital, has acquired Millian-Aire Enterprises, a Florida-based commercial and residential HVAC installation and maintenance provider. The transaction is an add-on to BGIS's facilities management platform to expand HVAC service capabilities and national commercial/residential coverage.

Airbrasive, LLC Acquires Airbrasive Jet Technologies from Sundara Partners

March 31, 2025

Manufacturing

Airbrasive, LLC of Green Lane, Pennsylvania completed the acquisition of Airbrasive Jet Technologies from Sundara Partners. The private investment will fund product-line investment and expansion of manufacturing capacity, with Airbrasive relocating to a 100,000 sq. ft. Green Lane facility owned by the buyer’s principal investors.