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Limbach Holdings Announces Continued Growth in Cannabis Indoor Agricultural Farming Opportunities
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Rhea-AI Summary
Limbach Holdings, Inc. (NASDAQ: LMB) has announced a growing demand for its HVAC services in the cannabis and indoor farming sectors, securing various contracts across multiple states. The company plans to showcase its capabilities at MJBizCon in October 20-21 in Las Vegas, NV. CEO Charlie Bacon highlighted Limbach's increasing market presence and emphasis on expanding its owner direct revenues, particularly in the rapidly evolving indoor agriculture market.
Positive
Increased demand for HVAC services in cannabis and indoor farming markets.
Secured multiple contracts across various states.
Participation in MJBizCon to enhance brand visibility and industry connections.
CEO emphasizes growth in owner-direct revenues.
Negative
None.
Company to Attend MJBizCon in October 2021
PITTSBURGH--(BUSINESS WIRE)--
Limbach Holdings, Inc. (NASDAQ: LMB) (“Limbach” or the “Company”) today announced that the Company has seen an increase in demand for the Company’s expertise in the design and implementation of HVAC services in the growing cannabis, indoor farming and agriculture markets. The Company has secured contracts for a number of these facilities in several states, and has been building a market niche with indoor farming, which it believes will be a sustainable area of capital investment.
As part of its continuing industry presence, the Company expects to attend MJBizCon, or Marijuana Business Conference, on October 20-21st in Las Vegas, NV.
Limbach Chief Executive Officer Charlie Bacon commented, “We have been very pleased with our market presence in the growing indoor agriculture industry, including cannabis growing facilities. While still a relatively small percentage of our overall owner-direct revenues, Limbach has worked to build a leading market-share position while expanding our ORD revenues in totality. To that end, we have expanded our marketing efforts and are excited to announce our attendance at MJBizCon. The Company’s capabilities in air handling plumbing and electrical services are well-suited for this industry as evidenced by the number of projects and service contracts we have been awarded this year. Having a presence and booth at this large-scale event will allow us to build our brand in this market sector, expand relationships with existing customers, and show our services to future clients. Indoor agriculture is a rapidly expanding sector for us, and supports the expansion of our owner direct strategy.”
MJBizCon is expecting over 10,000 people at this year’s event, including growers, services providers, and investors. Every year, more cannabis industry deals are done at MJBizCon than any other event, according to conference organizers. In addition to having a booth at the event, there will be several networking events hosted at the conference, which will allow Limbach’s team of six to leverage their participation at the event.
Limbach is an integrated building systems solutions firm whose expertise is in the design, modular prefabrication, installation, management and maintenance of heating, ventilation, air-conditioning (“HVAC”), mechanical, electrical, plumbing and controls systems. Our market sectors primarily include the following: healthcare, life sciences, data centers, industrial and light manufacturing, entertainment, education and government. With 22 offices throughout the United States and Limbach's full life-cycle capabilities, from concept design and engineering through system commissioning and recurring 24/7 service and maintenance, Limbach is positioned as a value-added and essential partner for building owners, construction managers, general contractors and energy service companies.
Investor Relations:
The Equity Group Inc. Jeremy Hellman, CFA
Vice President
(212) 836-9626 / jhellman@equityny.com
Or
Limbach Holdings, Inc. S. Matthew Katz Executive Vice President - Mergers, Acquisitions and Capital Markets
(212) 201-7006 / matt.katz@limbachinc.com
Source: Limbach Holdings, Inc.
FAQ
What market is Limbach Holdings focusing on in October 2021?
Limbach Holdings is focusing on the cannabis and indoor farming markets.
When and where is Limbach attending MJBizCon?
Limbach will attend MJBizCon on October 20-21, 2021, in Las Vegas, NV.
What is the stock symbol for Limbach Holdings?
The stock symbol for Limbach Holdings is LMB.
What contracts has Limbach secured recently?
Limbach has secured contracts in several states for HVAC services in cannabis and indoor farming facilities.
Why is Limbach attending MJBizCon?
Limbach is attending MJBizCon to build brand awareness and expand relationships within the cannabis industry.
