1 Main Capital's Yaron Naymark talks Limbach's evolution $LMB

Yaron Naymark, Founder of 1 Main Capital, is back for the third time on the Yet Another Value Podcast to discuss Limbach Holdings (NASDAQ: LMB), a mechanical systems solution engineering company that focuses on HVAC systems. Yaron talks about the evolution of the company since it went public via SPAC in 2016, transitioning towards the owner direct business and away from the older general contractor business, growth through acquisition strategy, equity raise in 2021 and why he finds $LMB interesting. For more information about Yaron Naymark and 1 Main Capital, please visit: https://www.1maincapital.com/ Chapters: [0:00] Introduction + Episode sponsor: Stream by Alphasense [1:57] What is Limbach Holdings $LMB and why is it interesting [10:28] Edge in transitioning towards the owner direct business and away from the older general contractor business [13:58] Growth through acquisition [20:38] Maintenance contracts [23:54] Market share for owners of infrastructure and critical infrastructure markets [25:49] How does macro recession or commercial real estate recession affect $LMB [30:24] $LMB's retention of employees post-acquisition [32:26] $LMB Valuation [37:32] Can $LMB do accretive M&A? [41:29] Recent insider purchases [43:25] Equity raise in 2021 - what happened and why did it receive the response that it did? [54:24] Final thoughts on $LMB: addition to the Russell 2000 and expiring warrants [55:37] Incorporating AI into investing and research process? Today's episode is sponsored by: Stream by Alphasense Are traditional expert calls in the investment world becoming obsolete? According to Stream, they are, and you can access primary research easily and efficiently through their platform. With Stream, you'll have the right insights at your fingertips to make the best investment decisions. They offer a vast library of over 26,000 expert transcripts, powered by AI search technology. Plus, they provide competitive rates on expert call services, and you can even have an experienced buy-side analyst conduct the calls for you. But that's not all. Stream also provides the ability to engage with experts 1-on-1 and get your calls transcribed free-of-charge—all for 40% less than you would pay for 20 calls in a traditional expert network model. So, if you're looking to optimize your research process and increase ROI on investment research spend, Stream has the solution for you. Head over to their website at streamrg.com to learn more. Thanks for listening, and we'll catch you next time. For more information: https://www.streamrg.com/