Orion Group Holdings Inc. announced it has acquired J.E. McAmis Inc. and JEM Marine Leasing LLC for approximately $60 million, net of cash acquired, expanding its heavy marine, jetty, and breakwater construction capabilities.
The transaction was announced Feb. 4 in a press release issued by the Houston-based specialty construction company. Orion said the acquisition advances its long-term growth strategy and strengthens its competitive position in marine construction.
J.E. McAmis, founded in 1973 and headquartered in Vancouver, Wash., specializes in marine construction projects, including jetty and breakwater construction, dredging, environmental restoration, and dam and spillway work. The company has operated primarily in Washington and Oregon, with additional projects in Canada, Florida, Alaska, and Hawaii.
“We are very pleased to welcome the J.E. McAmis team to Orion,” said Travis Boone, president and CEO of Orion. “Known for their outstanding safety record, on-time performance, and healthy margins, McAmis has excellent cultural alignment with Orion. The combination of our two companies provides increased scale and capacity by adding a highly skilled workforce, strategic marine equipment and real estate, and new capabilities to serve customers across a broader set of opportunities. This acquisition reflects the disciplined execution of our strategy to be the premier marine construction contractor in attractive end markets delivering long-term shareholder value.”
According to Orion, J.E. McAmis brings a $1.4 billion pipeline of opportunities, strong client relationships with the U.S. Department of Defense and the U.S. Army Corps of Engineers, and marine and real estate assets valued at $34 million. The acquisition also adds Jones Act-compliant marine assets to Orion’s equipment fleet.
“We are proud of what our J.E. McAmis team has built and we believe Orion is the right company to carry that legacy forward,” said John McAmis, president of J.E. McAmis, Inc. “Their scale, capabilities, and commitment to predictable excellence create a strong platform for our people and customers, and we believe this combination positions the business for sustainable long-term growth.”
The purchase consideration includes $46 million in cash funded through borrowings under Orion’s credit facility, $12 million in a five-year subordinated promissory note bearing interest at 6% per annum, and $2 million in Orion common stock. The agreement also includes up to $10 million in contingent consideration based on profits earned on projects in backlog, plus 40% of profit on select near-term pursuits.
Orion said the acquisition is expected to be accretive to adjusted EBITDA and margins in 2026. The company plans to provide consolidated full-year 2026 financial guidance with its full-year 2025 and fourth-quarter 2025 earnings release.
Oppenheimer & Co. Inc. and D.A. Davidson & Co. served as M&A advisors to Orion, with Jones Walker LLP acting as legal advisor.
