Limbach Holdings Inc. has entered a $65 million senior secured credit facility, comprised of a $40 million term loan which will refinance existing indebtedness, and a $25 million delayed-draw term loan to finance potential acquisitions. The lead arranger of the loan is Colbeck Capital Management LLC of New York.
Limbach, the ninth-largest mechanical systems firm in the U.S., also closed a $15 million senior secured ABL revolving credit facility with Citizens Bank, a member of the prior credit facility syndicate. The revolving credit facility will be used for general corporate purposes.
“We have worked over the last several months to organize a debt capital structure that supports the company’s plan for both organic growth and M&A-driven expansion in the coming years,” Limbach CEO Charlie Bacon said in a statement.
