Limbach Holdings has acquired 1901 Inc., a Madison, Wisconsin-based mechanical, electrical and plumbing contractor with roots stretching back 125 years, in a deal worth $63 million. The acquisition adds more than 350 field professionals and roughly 450 employees overall to Limbach's roster, along with deep union labor ties across Wisconsin trades including steamfitters, plumbers, sheet metal workers, electricians, sprinkler fitters and operating engineers.
The deal, first reported by citybiz, includes up to $6 million in performance-based earnouts payable over two years if specified targets are met, and the purchase price is subject to customary post-closing adjustments. Limbach funded the purchase with available cash and borrowings under its recently expanded revolving credit facility, which the company amended on July 24 to raise its total borrowing capacity from $100 million to $125 million, according to The Motley Fool. Nasdaq-listed under the ticker LMB, Limbach is headquartered in Tampa, Florida, and serves commercial and mission-critical facilities across the Eastern and Midwestern United States.
A Rapid-Fire Acquisition Pace
The 1901 Inc. purchase comes less than a month after Limbach closed a separate $30 million acquisition of Texas-based CYMCOR Inc. on August 4, expanding its data center commissioning and program management platform. CYMCOR is projected to contribute roughly $12 million in revenue and $4 million in adjusted EBITDA in fiscal year 2027 and currently oversees customer project budgets exceeding $8 billion. By comparison, 1901 Inc. is expected to bring in approximately $140 million in revenue and $11 million in adjusted EBITDA in 2027, making it a substantially larger addition to Limbach's platform than the CYMCOR deal.
That back-to-back dealmaking follows a strong second quarter for Limbach, which reported $173.5 million in total revenue for the period ending June 30, a 21.9% increase year-over-year. The company raised its full-year 2026 revenue guidance to between $760 million and $790 million and reported $93.1 million in total liquidity, including $17.5 million in cash and cash equivalents, the same Motley Fool earnings call transcript notes.
A Company Founded in 1901, Rebranded in 2018
1901 Inc. traces its history to W.J. Hyland Hall and H&H Industries, and the company operated for 125 years before joining Limbach. It formally adopted the 1901 name in 2018 as part of a rebranding effort to eliminate regional brand confusion with other local contractors, according to Kramer Madison. The rebrand highlighted the company's founding date while keeping its existing ownership in place.
1901 Inc. provides electrical, mechanical, plumbing, controls, fabrication, service, maintenance and underground utility work, with established operations across healthcare, higher education, industrial and cultural facilities. The firm serves Wisconsin and the broader Midwest, and Limbach says the acquisition establishes the company's largest electrical business to date while broadening its electrical capabilities and Midwest presence.
Leadership Reaction and Integration Plans
1901 Inc. president Paul Christensen said joining Limbach will give the Wisconsin business additional capabilities and resources while preserving local customer relationships and responsiveness. Limbach executive Michael McCann said 1901 is “an exceptional fit” with Limbach's strategy and represents another important step in scaling its building systems solutions platform, per citybiz's reporting on the deal.
Limbach says it intends to retain 1901's local operating model, customer relationships, technical capabilities and skilled workforce rather than folding the Wisconsin company into a centralized structure. The acquisition also opens opportunities for Limbach to expand into advanced manufacturing, life sciences and technology projects, and the company plans to pursue additional revenue and margin gains through customer relationship expansion and cross-selling services between the two businesses.
Fitting Into a Broader Midwest Footprint
Before incorporating 1901, Limbach employed approximately 2,100 people across 23 offices in the Eastern and Midwestern United States. The company already maintains a significant Midwest presence through a 74,843-square-foot office and prefabrication facility in Pontiac, Michigan, which serves as a regional hub for piping, sheet metal and plumbing fabrication supporting HVAC and building system installations across neighboring states, according to Royal Oak Realty Trust.
The purchase also aligns with Limbach's broader strategic shift toward Owner Direct Relationships, a model that accounted for over 75% of the company's total revenue by early 2026 compared with traditional general contractor bidding, per analysis from Market Mavericks. Direct relationships with building owners tend to deliver higher gross profit margins and longer-term maintenance revenue than project-by-project contractor bids.
Limbach says it plans to provide additional details about the acquisition's anticipated financial contribution when it reports third-quarter 2026 results in November. For now, the deal stands as Limbach's second major acquisition in under a month and its most significant Midwest expansion to date, adding both scale and a century-plus of local trade relationships in Wisconsin.
