Company Continues to See Strong Demand for Key Healthcare Facility Work
PITTSBURGH–(BUSINESS WIRE)– Limbach Holdings, Inc. (NASDAQ:LMB) (“Limbach” or the “Company”) today provided an update on recent sales activity in its Construction segment.
Limbach was recently awarded contracts totaling $81.4 million in the aggregate to perform the mechanical and plumbing preconstruction and construction services on four hospitals projects. Three of the hospital projects will be managed by the Company’s Florida business units while the fourth will be managed by the Michigan business unit.
Limbach CEO Charlie Bacon commented, “I am pleased to announce these four projects which further solidify our relationship with a leading healthcare provider and three major general contractors. The healthcare vertical continues to be an area of significant opportunity for Limbach. As has been the case for many years, we see continuing demand for the new development, expansion and renovation of healthcare facilities driven by positive demographic trends, particularly in Limbach’s core areas of operation. We expect to see continued investment in healthcare infrastructure from industry leaders, and consistent demand for larger facilities with more technically complex mechanical systems.”
Mr. Bacon continued, “Healthcare is one of eight verticals in which Limbach maintains a strong presence. Coupled with our twelve business units which each have independent demand drivers, our diversity across a number of verticals positions Limbach well for the future.”
About Limbach:
Founded in 1901, Limbach is the 9th largest mechanical systems solutions firm in the United States as determined by Engineering News Record. Limbach provides building infrastructure services, with an expertise in the design, installation and maintenance of HVAC and mechanical, electrical, and plumbing systems for a diversified group of commercial and institutional building owners. Limbach employs more than 1,850 employees in 15 offices throughout the United States. The Company’s full life-cycle capabilities, from concept design and engineering through system commissioning and recurring 24/7 service and maintenance, position Limbach as a value-added and essential partner for building owners, construction managers, general contractors and energy service companies.
Forward-Looking Statements
We make forward-looking statements in this press release within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, statements related to expected revenue and other benefits from new project wins. These statements may be preceded by, followed by or include the words “may,” “might,” “will,” “will likely result,” “should,” “estimate,” “plan,” “project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,” “seek,” “continue,” “target” or similar expressions. These forward-looking statements are based on information available to us as of the date they were made and involve a number of risks and uncertainties which may cause them to turn out to be wrong. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. As a result of a number of known and unknown risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Please refer to our most recent annual report on Form 10-K and subsequent quarterly reports on Form 10-Q, which are available on the SEC’s website (www.sec.gov), for a full discussion of the risks and other factors that may impact any forward-looking statements in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190117005582/en/
For Investor Relations:
The Equity Group Inc.
Jeremy Hellman, CFA
Senior Associate
(212) 836-9626 / jhellman@equityny.com
or
Limbach Holdings, Inc.
John T. Jordan, Jr.
Executive Vice President and Chief Financial Officer
(301) 623-4799 / john.jordan@limbachinc.com
Source: Limbach Holdings, Inc.
Released January 17, 2019