Deal positions building systems firm to capture growing demand in mission-critical infrastructure market
PITTSBURGH: Limbach Holdings, Inc. (Nasdaq: LMB) has acquired CYMCOR, Inc., a professional services firm specializing in program management and commissioning oversight for data center clients, in a $30 million deal that expands the company’s presence in the rapidly growing mission-critical infrastructure market.
The acquisition, funded through cash on hand and borrowings under Limbach’s recently expanded revolving credit facility, is expected to add approximately $12 million in professional services revenue and $4 million in adjusted EBITDA in 2027, according to company estimates. The purchase price is subject to customary post-closing adjustments, a statement said.
CYMCOR provides program management, commissioning oversight and strategic consulting for hyperscale, colocation, enterprise and mission-critical data center clients. The firm also serves technically demanding markets including healthcare. With a presence in key data center markets including Dallas/Fort Worth, Atlanta, Charlotte and Northern Virginia, CYMCOR currently oversees project budgets for customers with a cumulative value exceeding $8 billion.
The acquisition positions Limbach further upstream in the owner decision-making process, creating opportunities to generate high-margin professional services revenue while driving downstream project bookings across the company’s platform, said Mike McCann, president and chief executive officer of Limbach.
“CYMCOR brings trusted owner relationships and specialized expertise that would have taken years to develop organically,” McCann said. “CYMCOR’s business model closely mirrors Limbach’s proven healthcare program management platform, giving us confidence in our ability to drive value in this mission-critical market.”
Limbach has successfully employed a similar program management model in healthcare, generating approximately $3 million in professional services revenue and pulling through approximately $60 million of project bookings over the last 12 months, a 20-times pull-through multiple.
Through its program management services, CYMCOR’s early engagement with building owners is expected to create meaningful opportunities for Limbach to provide engineering, construction, commissioning, maintenance and other lifecycle services across data centers and other mission-critical markets.
“Over the past two decades, CYMCOR has built a reputation as a trusted advisor to owners managing some of the most complex capital programs in the industry,” said Marc Robertson, president of CYMCOR. “Limbach’s growing national presence, engineering expertise and operational resources will strengthen our capabilities, broaden our customer reach, and support long-term growth.”
Limbach is a building systems solutions firm that designs, delivers and maintains mechanical, electrical, plumbing and controls systems for mission-critical facilities across healthcare, industrial and manufacturing, data centers, life sciences, higher education, and cultural and entertainment markets. The company employs approximately 1,600 team members across 22 offices throughout the Eastern and Midwestern United States.
The acquisition expands Limbach’s geographic reach, strengthens its ability to serve national and multi-site data center customers, and positions the company to engage directly with building owners earlier in the facility lifecycle. The company’s immediate focus will be on integrating operations, leveraging complementary capabilities and expanding customer relationships through the combined platform.
Limbach Holdings, Inc. is a building systems solutions firm that partners with building owners and operators of mission-critical mechanical, electrical, plumbing, and controls infrastructure.
CYMCOR is a mission-critical program management and consulting firm specializing in the planning, management, and delivery of complex data center infrastructure projects.
