Everus Construction Group announced it has acquired SE&M Constructors and its affiliated entities for $158 million, strengthening its presence in the Southeast and expanding its mechanical services capabilities.
Founded in 1923 and headquartered in Elm City, North Carolina, SE&M provides mechanical, electrical, and plumbing services across pharmaceutical, industrial, and healthcare sectors. The company generates approximately 65% of its revenue from mechanical services and employs more than 200 skilled craft workers focused on complex, high-specification projects.
The acquisition enhances Everus’ exposure to pharmaceutical and industrial end markets while adding a recurring revenue component through SE&M’s maintenance and retrofit services. SE&M reported $109 million in revenue in 2025, with EBITDA margins in the high teens.
Everus funded the transaction with cash on hand and included a potential earnout of up to 8% of the purchase price tied to performance targets. Following the deal, the combined company is expected to maintain low leverage, with pro forma net leverage of approximately 0.8x.
The deal also expands Everus’ geographic footprint in the Southeast, a region experiencing strong demand across industrial and infrastructure markets. SE&M’s backlog and project pipeline are supported by favorable capital spending trends and long-term customer relationships, particularly in healthcare and pharmaceutical sectors.
SE&M’s leadership team, including CEO Zack Bynum, President Patrick Rogers, and CFO Alex Bynum, will remain with the company post-acquisition.
Everus expects the acquisition to create commercial synergies by leveraging SE&M’s expertise across its broader portfolio while also opening new opportunities in areas such as data center construction, where SE&M has limited prior exposure.
KEY QUOTES:
“We are very pleased to have SE&M join our family of operating brands as we build momentum in fulfilling our commitment to grow through strategic acquisitions, which complements our organic growth strategy. This transaction fits squarely with our stated acquisition criteria, as SE&M enhances our mechanical services capabilities; broadens our geographic footprint in the Southeast, where we see strong industry tailwinds; and deepens our end-market exposure, particularly in the industrial and pharmaceutical markets. SE&M’s strong focus on the safety and well-being of its employees is also a great fit with Everus’ culture, values and our 4EVER strategic priorities. Looking ahead, we are encouraged by our first acquisition as a stand-alone public company, but this is just our first step. With expected pro forma net leverage of 0.8x, we have ample financial flexibility to execute on our strategic priorities and remain committed to our disciplined capital allocation framework, with a focus on both investments in organic growth and strategic acquisitions.”
Jeffrey S. Thiede, President And CEO, Everus Construction Group
“As a fourth-generation family-owned business, we are excited to build on our legacy by joining a growing company that prioritizes its employees, has a strong culture of integrity and safety, and continually builds on its operational expertise.”
Zack Bynum, CEO, SE&M
“While being part of Everus ensures SE&M is well-positioned to continue serving our broad and diverse customer base over the long term, we will be the same company providing the superior service that our customers have come to know and trust from us.”
Patrick Rogers, President, SE&M
