Everus Acquires SE&M and Subsidiaries for $158M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 02 2026
0mins
Should l Buy ECG?
Everus Construction Group has acquired SE&M Constructors, Inc., SE&M of the Triangle, Inc. and SECO Rentals. SE&M, founded in 1923 and headquartered in Elm City, North Carolina, provides mechanical, electrical and plumbing services to customers across a variety of sectors, including pharmaceutical, complex industrial and health care. SE&M generates approximately 65% of its revenue from mechanical services, with critical expertise in advanced industrial construction processes that require strict quality control. Led by an experienced management team, SE&M has more than 200 skilled craft laborers who enable the company to deliver on highly specialized and complex projects. SE&M provides full lifecycle service offerings with a meaningful contribution generated from the maintenance and retrofit of existing facilities, providing a consistent base of recurring revenue. The company focuses on end markets where unique capabilities and expertise are required to successfully execute projects, resulting in deep customer relationships. As part of the transaction, CEO Zack Bynum, President Patrick Rogers, CFO Alex Bynum and other key members of SE&M's experienced leadership team will remain with the company. Everus acquired SE&M for $158M, subject to certain closing adjustments, funded by cash on hand. Transaction terms also allow for a potential earnout payment, not to exceed an additional 8% of the purchase price, based on certain post-acquisition performance targets. SE&M has a proven history of strong financial performance with an attractive margin profile. In 2025, SE&M generated revenue of $109M with earnings before interest, taxes, depreciation and amortization as a percentage of revenue in the high teens. Everus will update its financial forecast for 2026 during its first quarter earnings report.
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Analyst Views on ECG
Wall Street analysts forecast ECG stock price to fall
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 130.340
Low
97.00
Averages
102.00
High
107.00
Current: 130.340
Low
97.00
Averages
102.00
High
107.00
About ECG
Everus Construction Group, Inc. is a construction solutions provider offering specialty contracting services to a set of end markets across the United States. Its segments are Electrical & Mechanical (E&M) and Transmission & Distribution (T&D). Its E&M segment offers a variety of specialty contracting services, including construction and maintenance of electrical and communication wiring, fire suppression systems, and mechanical piping and services to customers in both the public and private sectors. Its T&D segment specializes in transmission and distribution construction and offers a set of specialty contracting services, including the construction and maintenance of overhead and underground electrical, gas and communication infrastructure. The T&D segment also designs, manufactures, sells and rents overhead and underground line-stringing equipment and tools. This segment also provides solutions for excavation and underground boring, substations, signals and lighting, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Everus Construction Group Acquires SE&M Constructors for $158 Million
- Acquisition Overview: Everus Construction Group announced the acquisition of SE&M Constructors for $158 million in cash, with an additional earnout of up to 8% tied to performance, reflecting the company's confidence in future growth.
- Market Expansion: SE&M Constructors, founded in 1923 and based in North Carolina, specializes in mechanical, electrical, and plumbing services across industrial, pharmaceutical, and healthcare sectors, employing over 200 workers, thereby enhancing Everus' footprint in the U.S. Southeast.
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- Market Expansion: SE&M Constructors, founded in 1923 and based in North Carolina, specializes in mechanical, electrical, and plumbing services across industrial, pharmaceutical, and healthcare sectors, employing over 200 workers, thereby enhancing Everus' footprint in the U.S. Southeast.
- Financial Performance: SE&M generated $109 million in revenue in 2025, with EBITDA margins in the high teens, indicating robust profitability in the industry, which will provide Everus with a significant revenue stream.
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See More
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- Acquisition Overview: Everus has acquired SE&M and its subsidiaries for $158 million, funded by cash on hand, which is expected to enhance Everus' mechanical services capabilities and expand its market presence in the Southeast.
- Revenue Diversification: SE&M generates approximately 65% of its revenue from mechanical services, particularly in the pharmaceutical and industrial sectors, and this acquisition will further diversify Everus' revenue mix and enhance its competitive position in the market.
- Strong Financial Performance: SE&M achieved $109 million in revenue in 2025, with EBITDA margins in the high teens, and the acquisition is anticipated to provide Everus with stable cash flow and predictable revenue streams.
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