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Update: Limbach Shares Rise After Acquiring 1901 for $63 Million

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(Updates with share movement in the headline and first paragraph.)

Limbach (LMB) shares rose over 8% Tuesday after it acquired 1901, a Wisconsin-based MEP contractor that provides underground utility solutions in Wisconsin and the Midwest, for a purchase price of $63 million funded with cash and borrowings.

The deal also includes performance-linked earn-outs of up to $6 million, with those amounts being payable, if earned, over the next two years from closing, the company said.

Limbach said it expects 1901 to contribute about $140 million in revenue and $11 million in adjusted EBITDA for full year 2027.

Price: $44.54, Change: $+3.32, Percent Change: +8.05%

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