---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-25-033623"
form_type: "8-K"
ticker: "LMB"
cik: "0001606163"
company_name: "Limbach Holdings, Inc."
filed_at: "2025-07-01T23:59:59+00:00"
generated_at: "2026-05-18T09:59:51.031670+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-25-033623
- form_type: 8-K
- ticker: LMB
- cik: 0001606163
- company_name: Limbach Holdings, Inc.
- filed_at: 2025-07-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1606163/000162828025033623/0001628280-25-033623-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1606163/000162828025033623/lmb-20250627.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-25-033623
- JSON: https://secwatch.observer/filing/0001628280-25-033623.json
- Plain text: https://secwatch.observer/filing/0001628280-25-033623.txt

## Key facts
- Debt Financings
  Limbach Holdings, Inc. amended revolving credit of $100.0 million with Wheaton Bank & Trust Company, N.A. maturing July 1, 2030.
  - Instrument: revolving credit
  - Principal: $100.0 million
  - Counterparty: Wheaton Bank & Trust Company, N.A.
  - Maturity: July 1, 2030
  - Event: amendment
  source text: The Second Amendment to the Second A&R Wintrust Credit Agreement provides for, among other things, (i) an upsize of the aggregate principal amount of the senior secured revolving credit facility from $50.0 million to $100.0 million, (ii) modifying the definition of “L/C Sublimit” to increase the sublimit for the issuance of letters of credit from $10.0 million to $20.0 million, (iii) an extension of the revolving credit scheduled maturity date from February 24, 2028 to July 1, 2030, (iv) a decrease in the applicable margins for Term SOFR and Prime Rate (each defined in the Second Amendment to the Second A&R Wintrust Credit Agreement) revolving loans as determined with reference to the Borrower’s Senior Leverage Ratio (as defined in the Second Amendment to the Second A&R Wintrust Credit Agreement), (v) a term loan conversion feature, allowing the Borrower, subject to certain conditions, to convert outstanding revolving loans into one or more term loan tranches, (vi) the removal of certa
  evidence_url: https://www.sec.gov/Archives/edgar/data/1606163/000162828025033623/0001628280-25-033623-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.