Everus Construction Group Acquires SE&M for $158M, Expanding Southeast Presence and Diversifying Revenue

summarizeSummary

Everus Construction Group announced the completion of its acquisition of SE&M Constructors for $158 million in cash, expanding its mechanical services and market presence in the Southeast.

check_boxKey Events

• Acquisition Completed

  Everus Construction Group acquired SE&M Constructors, Inc., SE&M of the Triangle, Inc., and SECO Rentals, LLC for $158 million in cash, subject to closing adjustments, with a potential earnout of up to an additional 8%.

• Strategic Expansion

  The acquisition diversifies Everus's revenue mix, expands its mechanical services offering, and broadens its geographic footprint in the Southeast, particularly in the industrial and pharmaceutical end markets.

• Strong Financial Position

  The transaction was funded by cash on hand, resulting in an expected pro forma net leverage of 0.8x, indicating ample financial flexibility for future strategic initiatives.

• Revenue Contribution

  SE&M generated $109 million in revenue in 2025 with high-teens EBITDA margins, contributing to Everus's overall financial performance and growth outlook.

auto_awesomeAnalysis

Everus Construction Group's acquisition of SE&M is a significant strategic move, formalizing the news reported earlier today. The $158 million all-cash deal, with a potential earnout, represents a material investment relative to the company's size and is funded without increasing leverage, maintaining a healthy pro forma net leverage of 0.8x. This acquisition aligns with Everus's stated growth strategy, enhancing its mechanical services capabilities, broadening its geographic footprint in the attractive Southeast region, and deepening its exposure to stable industrial and pharmaceutical end markets. The integration of SE&M's strong backlog and recurring maintenance revenue streams is expected to provide increased predictability and a favorable growth outlook, positioning Everus for continued expansion.