Limbach acquires Jake Marshall for $20M cash; expects immediate accretion

Limbach Holdings, Inc.

Enterprise value of $20M all-cash; funded with $10M cash on hand and $10M term borrowings under A&R credit facility.
Jake Marshall generated average $45M revenue and $4.5M EBITDA annually from 2014-2020; earnout up to $6M based on gross profit thresholds through 2023.
Deal expands owner-direct focus and southeast presence; expected to be accretive to bottom line.
A&R Credit Agreement provides $35.5M term loan and $25M revolver, maturing February 2026.

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