Limbach acquires Pioneer Power for $66.1M; upsizes credit facility to $100M

Limbach Holdings, Inc.

Acquired Pioneer Power for $66.1M initial purchase price using cash and revolving credit facility.
Senior secured revolving credit facility upsized from $50M to $100M, maturity extended to July 2030.
Pioneer Power generated ~$135M revenue and $9M adjusted EBITDA in FY 2024.
Acquisition expected to be accretive to adjusted EBITDA and EPS beginning in FY 2025.
Expands Limbach's footprint into Upper Midwest mechanical contracting market.

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