SE&M, founded in 1923 and headquartered in Elm City, North Carolina, specializes in mechanical, electrical, and plumbing services across various sectors, including pharmaceutical and healthcare. The company generates approximately 65% of its revenue from mechanical services, which are critical for advanced industrial construction processes requiring stringent quality control. With a skilled workforce of over 200 craft laborers, SE&M is well-positioned to deliver on complex projects.
The acquisition aligns with Everus's growth strategy, which emphasizes both organic growth and strategic acquisitions. Jeffrey S. Thiede, president and CEO of Everus, expressed enthusiasm about the acquisition, stating, "This transaction fits squarely with our stated acquisition criteria, as SE&M enhances our mechanical services capabilities, broadens our geographic footprint in the Southeast, and deepens our end-market exposure, particularly in the industrial and pharmaceutical markets."
The acquisition is expected to provide Everus with a favorable margin profile and a strong backlog trend, as SE&M has a proven history of strong financial performance. In 2025, SE&M generated revenue of $109 million with EBITDA margins in the high teens. The transaction was funded through cash on hand, and terms include a potential earnout payment based on post-acquisition performance targets.
As part of the transaction, key members of SE&M's leadership team, including CEO Zack Bynum and President Patrick Rogers, will remain with the company, ensuring continuity and leveraging their expertise to drive future growth. Everus plans to update its financial forecast for 2026 during its first-quarter earnings report, reflecting the anticipated contributions from SE&M.
This acquisition marks a significant step for Everus as it continues to build momentum in fulfilling its commitment to grow through strategic acquisitions, positioning itself for long-term success in the construction industry.
