Limbach Holdings, Inc. (NASDAQ:LMB) Q1 2024 Earnings Call Transcript

And I think also from a margin expansion. So it’s not just the mix, but it’s also our ability to introduce service offerings as well, too. And obviously, finishing and getting to that optimal mix having the right offerings, there’s a pickup, I think, on both sides of it.

Brandon Rogers: Awesome. Thank you the color. And then just one more for me. You discussed acquisitions a little bit. But can you just discuss how the successful acquisition integration with ACME and Industrial Air and you mentioned robust pipeline. Is there any ideal targets that you have coming down the pipe in the next three to six months, maybe nine months out?

Michael McCann: Sure. So just to talk a little bit about both of the deals that we’ve done. So Industrial Air very much in the industrial manufacturing space. A couple of key components, which has made that deal successful so far is their ability to have a concentrated owner direct base that is expandable, they also have an equipment line that allows us to have an installed base similar to an OEM. Between customers, the equipment offering that they have, and I would also tell that from a cultural fit as well to those three components have really – we’re excited about not only the opportunity right now, but also the future opportunity in Industrial. From an ACME perspective, they are also in the industrial vertical market hydro, different types of industrial manufacturer.

So they’ve introduced us to several new clients with future spend down the line as well, too. So cultural fit, owner direct customers, expansion opportunities, those are really the three key components that both of those deals have. So looking down the line, we’re continuing to look through plenty of opportunities, a robust pipeline. We’re trying to be selective. And obviously, we’re trying to – we want to get deals done, but we want to get the right deals done so.

Brandon Rogers: Awesome. Thank you so much. Appreciate you taking my questions. I’ll take the rest on offline.

Operator: Thank you. And there are no further questions at this time. I’ll hand the floor back to Mike McCann for closing comments.

Michael McCann: Thank you all for your participation today and for your continued interest in Limbach. If you have any additional questions, please reach out to Julie Kegley at Financial Profiles. Thank you, and have a great day.

Operator: Thanks. This concludes today’s call. All parties may disconnect.