Everus Acquires SE&M to Expand Regional Presence
Everus Construction Group has announced the acquisition of SE&M Constructors, Inc., along with its affiliated entities SE&M of the Triangle, Inc. and SECO Rentals, LLC. The combined group, collectively referred to as SE&M, represents a significant addition to Everus’ portfolio and aligns with the company’s strategy of expanding through targeted acquisitions.
Founded in 1923 and headquartered in Elm City, North Carolina, SE&M has built a long-standing reputation as a provider of mechanical, electrical, and plumbing (MEP) services. The company serves a diverse range of industries, including pharmaceutical, complex industrial, and healthcare sectors. Its ability to deliver specialized solutions in highly regulated and technically demanding environments has positioned it as a trusted partner for clients requiring precision and reliability.
A substantial portion of SE&M’s business—approximately 65% of its revenue—is derived from mechanical services. The company is particularly recognized for its expertise in advanced industrial construction processes, where strict quality control and adherence to rigorous standards are essential. These capabilities enable SE&M to successfully execute complex projects that demand a high level of technical proficiency.
The company’s workforce is another key strength, comprising more than 200 skilled craft laborers supported by an experienced management team. This combination of technical expertise and operational leadership allows SE&M to consistently deliver high-quality results across a wide range of projects. Its ability to manage both large-scale construction efforts and specialized installations has contributed to its strong reputation in the marketplace.
In addition to its construction capabilities, SE&M offers full lifecycle services, including maintenance, retrofitting, and upgrades of existing facilities. These services generate a meaningful portion of the company’s revenue and provide a stable base of recurring income. By maintaining long-term relationships with clients and supporting their ongoing operational needs, SE&M has developed a business model that balances project-based work with consistent service revenue.
Jeffrey S. Thiede, President and Chief Executive Officer of Everus, expressed enthusiasm about the acquisition, noting that SE&M will become part of the company’s growing family of operating brands. He emphasized that the transaction aligns closely with Everus’ strategic objectives, particularly its focus on enhancing mechanical services capabilities and expanding its geographic footprint in the southeastern United States.
Thiede highlighted that the Southeast region presents strong growth opportunities, supported by favorable industry trends and increasing demand across key sectors. By acquiring SE&M, Everus not only strengthens its presence in this region but also deepens its exposure to end markets such as industrial and pharmaceutical construction, where specialized expertise is critical.
He also pointed out that SE&M’s commitment to safety and employee well-being aligns closely with Everus’ corporate culture and values. This cultural compatibility is an important factor in ensuring a smooth integration and maintaining the high standards that both organizations uphold. The acquisition supports Everus’ broader “4EVER” strategic priorities, which emphasize sustainable growth, operational excellence, and a strong focus on people.
Looking ahead, Thiede described the transaction as an important milestone for Everus, particularly as it represents the company’s first acquisition since becoming a stand-alone public entity. He noted that the company remains well-positioned financially, with an expected pro forma net leverage of approximately 0.8 times. This level of leverage provides significant flexibility to pursue additional strategic initiatives, including further acquisitions and investments in organic growth.
From SE&M’s perspective, the acquisition marks a new chapter in its long history. Zack Bynum, Chief Executive Officer of SE&M, highlighted the significance of the move for a fourth-generation family-owned business. He expressed confidence that joining Everus will allow SE&M to build on its legacy while benefiting from the resources and support of a larger organization. Bynum also emphasized the alignment between the two companies in terms of culture, integrity, and commitment to safety.
Patrick Rogers, President of SE&M, reinforced this sentiment, noting that the partnership will enable the company to continue serving its diverse customer base effectively over the long term. He assured clients that SE&M will maintain its established approach to delivering high-quality service, preserving the trust and reliability that customers have come to expect.
As part of the transaction, SE&M’s leadership team will remain in place, ensuring continuity and stability during the transition. In addition to Zack Bynum and Patrick Rogers, Alex Bynum, Chief Financial Officer, and other key team members will continue to play active roles in the business. This continuity is expected to support a seamless integration while retaining the expertise and relationships that have been central to SE&M’s success.
Overall, the acquisition represents a strategic step forward for Everus as it seeks to expand its capabilities, strengthen its market position, and deliver long-term value to its stakeholders. By integrating SE&M’s specialized expertise, skilled workforce, and strong client relationships, Everus is well positioned to capitalize on growth opportunities in the Southeast and beyond.
The transaction also underscores the importance of combining organic growth with strategic acquisitions to build a more diversified and resilient business. With a clear focus on operational excellence, safety, and customer satisfaction, Everus continues to position itself as a leading provider of construction services in key markets across the United States.
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