Limbach Holdings Provides Sales Update
January 17 2019 - 11:15AM
Business Wire
Company Continues to See Strong Demand for
Key Healthcare Facility Work
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, CFASenior Associate(212) 836-9626 /
jhellman@equityny.comorLimbach Holdings, Inc.John T. Jordan,
Jr.Executive Vice President and Chief Financial Officer(301)
623-4799 / john.jordan@limbachinc.com
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