Limbach Holdings Announces the Appointment of New Executive Vice President of M&A and Capital Markets and a New Board Member
September 01 2017 - 11:30AM
Business Wire
Limbach Holdings, Inc. (NASDAQ:LMB) (“Limbach”) today announced
that Director Matt Katz has accepted the position of Executive Vice
President of M&A and Capital Markets within Limbach. As a
result of this transition, Mr. Katz has resigned from the Board of
Directors. Separately, the Company is announcing that Mike McNally
will join the Board of Directors after being voted in as a Class B
Director, effective September 1, 2017.
“We believe that Matt will be a great resource and addition to
the team, helping kick our M&A initiative into a higher gear.
He has considerable experience in identifying, negotiating, and
closing M&A and capital markets transactions throughout his
seventeen years as a private equity investor. Importantly, Matt has
been an active investor in the engineering and construction
services sector throughout his career, and has an extensive network
of contacts which will serve the Company well in executing against
its growth strategy. I have known Matt professionally since 2004,
and since then he has developed relationships with many of his
current peers and the other senior executives within the Limbach
organization given his long relationship with the Company,” said
Charlie Bacon, President and Chief Executive Officer of Limbach
Holdings.
“I would also like to take this time to formally introduce Mr.
Michael McNally to our board of directors. I have known Mike for
quite some time now and we feel that he is a great addition to our
board and are confident that he will help with the growth of the
Company. Under Mike’s leadership, Skanska grew to be the second
largest domestic building contractor in the US, and third largest
heavy civil contractor. Experience like this will enable Mike to be
a great resource for us. We have been very open about our desire to
grow Limbach to a $2.1 billion business by 2025. The addition of
Matt to the Senior Management Team and Mike to the Board will
greatly enhance our ability to reach this goal.”
In addition to his new position on the Limbach Holdings’ Board
of Directors, Mr. McNally also sits on the Board of Directors for
Granite Construction; is Chairman of the board of directors at the
US Green Building Council; and a board member at Terracon. He
brings with him over 35 years of construction experience through
holding various management positions with Fluor, Marshall
Contractors, Mobil Oil and J. Ray McDermott. He retired in 2014, as
President and Chief Executive Officer of Skanska USA, Inc., a
subsidiary of the one of the world’s largest construction
companies. Prior to that, he served as Vice President in charge of
Construction for Fluor Daniel’s Industrial Group. Mr. McNally
received a B.S. in Civil Engineering from the University of Notre
Dame and an MBA from the University of Rhode Island.
About Limbach
Limbach Holdings, Inc. is an integrated building systems
provider – managing all components of mechanical, electrical,
plumbing and control systems, from system design and construction
through performance and maintenance. The Company engineers,
constructs and services the mechanical, plumbing, air conditioning,
heating, building automation, electrical and control systems in
both new and existing buildings. Customers include building owners
in the private, not-for-profit and public/government sectors. With
headquarters in Pittsburgh, PA, Limbach operates from 10
strategically located business units throughout the United States
including Western Pennsylvania (Pittsburgh), Eastern Pennsylvania
(Warrington, PA), New Jersey (South Brunswick), New England
(Wilmington, MA), Ohio (Columbus and Athens, OH), Michigan (Pontiac
and Lansing, MI), Southern California (Seal Beach, CA), and
Mid-Atlantic (Laurel, MD). Our design engineering and innovation
center, Limbach Engineering & Design Services, is based in
Orlando, Florida. Harper Building Systems, a Limbach Holdings, Inc.
company, operates throughout Florida with offices in Tampa and Lake
Mary, North of Orlando. Our approximately 1,500 employees strive to
be the customer’s 1st Choice in terms of the services provided,
vertical markets and geographies served. Our commitment to safety,
advanced technology, human development and reliable execution has
enabled Limbach to attract and retain the industry’s top leadership
talent, skilled craftspeople and professional management staff.
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 relate to expectations or
forecasts for future events, including, without limitation, our
earnings, Adjusted EBITDA, revenues, expenses, capital expenditures
or other future financial or business performance or strategies,
results of operations or financial condition. 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 Form 10-K filed on April 17, 2017, which
is 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 presentation.
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version on businesswire.com: http://www.businesswire.com/news/home/20170901005496/en/
Investor Relations:The Equity Group Inc.Jeremy Hellman,
CFA, 212-836-9626Senior Associatejhellman@equityny.com
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