Limbach Holdings Acquires 1901 Inc.

Madison Air Solutions to Acquire ebm-papst for $5.4B

August 17, 2026

Industrial Services

Madison Air Solutions Corporation entered into a definitive agreement to acquire German airflow technology provider ebm-papst for an enterprise purchase price of about $5.4 billion (about $5.0 billion net of future tax savings). The acquisition is expected to close around year-end, subject to regulatory approvals and customary closing conditions, and is designed to expand Madison Air’s air technology and data-center cooling capabilities.

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 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 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 Industrial Air (Greensboro, NC)

November 2, 2023

Industrial Services

Limbach Holdings, Inc. (Nasdaq: LMB) has acquired Industrial Air, LLC, a Greensboro-based specialty mechanical contractor, for an initial enterprise value of $13.5 million in an all-cash transaction with up to $6.5 million of contingent earn-outs. Industrial Air, founded in 1964, provides engineered air handling, air filtration and controls to industrial and textile customers and is expected to contribute roughly $30 million of revenue and $4 million of EBITDA annually; the deal expands Limbach's geographic footprint in the Carolinas and strengthens its industrial/institutional capabilities.

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.