Orion Group Holdings Acquires J.E. McAmis for $60 Million

By Chris Stiles • Wednesday, February 04 11:52 • Permanent Link

Orion Group Holdings, Inc. has completed the acquisition of J.E. McAmis, Inc. and JEM Marine Leasing LLC for approximately $60 million. This acquisition is expected to advance Orion’s long-term strategic growth plan and strengthen its competitive position in the marine construction business.

J.E. McAmis has a proven track record in delivering complex marine construction projects, including jetty and breakwater construction, dredging, environmental restoration, and dam and spillway construction. The company has demonstrated high margin growth over the past several years and has a robust $1.4 billion pipeline of opportunities.

The transaction details include a purchase consideration of approximately $60 million, funded through borrowings under Orion’s credit facility, a 5-year subordinated promissory note, and Orion common stock. There is also additional contingent consideration of $10 million on profit earned on projects in backlog plus 40% of profit on select near-term pursuits.

Orion expects this acquisition to be accretive to its 2026 adjusted EBITDA and margin. The company will provide comprehensive consolidated full-year 2026 financial guidance in connection with its full-year 2025 and fourth quarter 2025 earnings announcement.

The acquisition reflects Orion’s strategy to be the premier marine construction contractor in attractive end markets and to deliver long-term shareholder value. The combination of the two companies is expected to increase scale and capacity, add a highly skilled workforce, strategic marine equipment and real estate, and new capabilities to serve customers across a broader set of opportunities.

The acquisition was advised by Oppenheimer & Co., Inc. and D.A. Davidson & Co., Inc. as M&A advisors, and Jones Walker LLP served as the legal advisor to Orion in this transaction.

Orion will host a conference call to discuss the acquisition and provide more details on the transaction. The company’s marine segment provides construction and dredging services, while its concrete segment provides turnkey concrete construction services.

The market has reacted to these announcements by moving the company's shares -0.98% to a price of $11.11. Check out the company's full 8-K submission here.

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