Limbach Holdings, Inc. · NASDAQ:LMB
Limbach — Merger or Acquisition (December 2021)
9 slides from Limbach's merger presentation, Dec 3, 2021
Slide 1: Acquisition of Jake Marshall, LLC
Diverse ● Evolving ● Essential Acquisition of Jake Marshall, LLC December 2021 1
Slide 2: Forward Looking Statements
Forward Looking Statements We make forward-looking statements in this presentation 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
Slide 3: Agenda Outline
Agenda Outline 01 Transaction Highlights 02 About Jake Marshall 03 Strategic Fit 04 Deal Terms 05 Selected Financial Information 06 Closing comments 33
Slide 4: Transaction Highlights
Transaction Highlights Value Creation Opportunities Leading Market Position Leverage of industrial, healthcare and Dominant contractor in the protected higher education resumes; deployment of design and engineering capabilities, 06 01 Chattanooga MSA; serving industrial and institutional markets in
Slide 5: About Jake Marshall
About Jake Marshall • Chattanooga, TN-based Jake Marshall is a specialty mechanical contractor occupying a dominant position in its core geographic markets of Southeastern Tennessee, Northern Georgia and Northern Alabama) • The Company benefits from a strong reputation for technical ability, excepti
Slide 6: Excellent Strategic Fit
Excellent Strategic Fit Geographic Supports Attractive Capability Proximity ODR Strategy Business Model Expansion ✓ Chattanooga location provides ✓ A substantial portion of Marshall’s ✓ Strong local market presence and ✓ No existing Core Service capability access to markets in existing work is ODR,
Slide 7: Transaction Terms and Structure
Transaction Terms and Structure Valuation • The net consideration paid at closing was $20 million in cash1, which represents an enterprise value multiple of approximately 4.5x historical average EBITDA2 • Additional earn-out opportunities totaling an aggregate maximum of up to $6 million contingent
Slide 8: Selected Business / Financial Highlights
Selected Business / Financial Highlights Jake Marshall – Financial Highlights • Average1 annual revenue of more than $45 million • History of strong and consistent field execution and gross margins • Average1 annual EBITDA of more than $4.5 million • Business mix includes substantial ODR exposure Ja
Slide 9: Key Considerations / Closing Comments
Key Considerations / Closing Comments Excellent Go-to-market Carefully Focus will be on Perpetuation of strategic fit strategy and structured to be top-line Jake Marshall across all vectors business model immediately synergies; organization, supports Limbach’s accretive and expanding Jake operations
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