Limbach Holdings, Inc.
LMB
pitch
long
Rudi van Niekerk, Desert Lion Capital
Thesis
Limbach is transitioning its revenue mix from low-margin general contracting to higher-margin owner direct relationships, which has already improved profitability. With a strong balance sheet and a strategy to roll up smaller companies, LMB is expected to significantly increase EBITDA over the next few years, making it an attractive investment opportunity.
Did it work?
worked
confidence: high
The stock price has increased by 172.5% since the pitch, indicating strong performance that aligns with the long thesis. The transition to higher-margin relationships and the strategy to increase EBITDA through acquisitions appear to have been successful, confirming the investment thesis.
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