Everus to Acquire Epsilon Industries, Expanding Leadership in Off-Site Modular Construction
Everus Construction Group has announced that it has entered into a definitive agreement to acquire Epsilon Industries, a leading designer and manufacturer of complex modular mechanical and electrical building infrastructure systems, in an all-cash transaction valued at approximately $295 million, subject to customary closing adjustments.
The acquisition represents a major strategic investment for Everus as it continues to strengthen its capabilities in off-site modular construction and prefabrication—two rapidly growing segments of the construction industry. By adding Epsilon’s expertise, advanced manufacturing capabilities, and nationwide operations, Everus aims to enhance project delivery, improve operational efficiency, and better serve customers across several high-growth markets, including data centers, advanced manufacturing, and healthcare.
The transaction also reinforces Everus’ long-term strategy of expanding its technical capabilities while meeting increasing customer demand for faster, safer, and more efficient construction solutions.
Founded more than 25 years ago, Epsilon Industries has established itself as one of North America’s premier providers of off-site modular construction solutions. The company specializes in designing, fabricating, and installing highly engineered mechanical and electrical infrastructure systems that are manufactured in controlled production environments before being delivered to construction sites for installation.
Over the years, Epsilon has built a strong reputation for innovation, precision manufacturing, and the ability to execute complex projects that require customized engineering solutions.
Its proprietary manufacturing processes and extensive technical expertise have enabled the company to consistently deliver high-quality modular systems while reducing construction schedules, improving quality control, and minimizing on-site labor requirements.
The company’s comprehensive service offering spans the entire project lifecycle, beginning with design-assist services that help customers optimize building systems during the planning phase.
From there, Epsilon provides custom fabrication of modular components using advanced manufacturing techniques before completing turnkey field installation, ensuring seamless integration into finished construction projects.
This end-to-end approach allows clients to streamline project execution while benefiting from greater consistency, improved quality, and reduced construction risks.
Epsilon serves a diverse portfolio of industries where demand for complex building infrastructure continues to grow.
Among its primary markets are data centers, where rapid expansion of cloud computing, artificial intelligence, and digital infrastructure has fueled significant investment in mission-critical facilities requiring sophisticated mechanical and electrical systems.
The company also supports advanced manufacturing projects, including semiconductor, technology, pharmaceutical, and industrial facilities, as well as healthcare developments where precision engineering and reliable building infrastructure are essential.
These sectors align closely with Everus’ existing customer base and represent some of the fastest-growing segments within North America’s construction industry.
A key strength of Epsilon lies in its extensive manufacturing network.
The company operates multiple strategically located production facilities across the United States and Canada, providing broad geographic coverage and enabling efficient nationwide distribution of modular building systems.
These facilities allow Epsilon to manufacture large, highly engineered assemblies in controlled environments before transporting them directly to construction sites for rapid installation.
This manufacturing model offers several advantages over traditional on-site construction methods, including improved safety, enhanced quality control, reduced weather-related delays, and more predictable project schedules.
Following completion of the acquisition, Everus expects Epsilon’s manufacturing footprint to complement and strengthen its existing operations across North America.
The combined organization will be positioned to expand its presence in several strategic growth markets, including Florida, Texas, the Mid-Atlantic region, and the Northeastern United States, where demand for advanced commercial and industrial construction continues to increase.
The acquisition also provides Everus with additional opportunities to support customers on projects requiring highly specialized modular infrastructure solutions.
Beyond its facilities and technical capabilities, Epsilon brings a highly experienced workforce to Everus.
The company is led by an accomplished management team with decades of expertise in engineering, manufacturing, and construction operations.
Its workforce includes more than 50 engineers and over 120 skilled trades professionals, providing significant technical knowledge and specialized manufacturing capabilities that will strengthen Everus’ existing operations.
The combination of experienced leadership, engineering talent, and skilled production teams positions the merged organization to continue delivering innovative modular construction solutions across a broad range of complex projects.
Jeffrey S. Thiede, President and Chief Executive Officer of Everus, said the acquisition represents an important step in advancing the company’s long-term growth strategy.
He noted that Epsilon has built an impressive legacy of innovation and operational excellence in off-site construction, making it an ideal addition to the Everus organization.
According to Thiede, integrating Epsilon’s capabilities will further expand Everus’ expertise in modular construction and prefabrication while helping meet increasing customer demand for more efficient project delivery methods.
He explained that performing construction work within controlled manufacturing facilities offers numerous operational advantages.
Factory-based production creates safer working conditions for employees, improves labor productivity, optimizes material utilization, and reduces waste.
It also enables greater consistency throughout the manufacturing process, resulting in higher-quality products and more predictable project outcomes.
Thiede added that Epsilon’s geographic presence and specialized capabilities will strengthen Everus’ competitive position across several important end markets while creating additional opportunities for future growth.
He believes the combined company will be well positioned to capitalize on favorable market trends driving increased adoption of off-site construction technologies.
Epsilon President Chris Wiederick also welcomed the transaction, describing it as an exciting opportunity for both organizations.
He said Epsilon is enthusiastic about joining the Everus team and collaborating with the company’s existing off-site construction specialists to exchange expertise, share best practices, and enhance project execution across the broader organization.
According to Wiederick, the construction industry is entering a period of significant transformation as owners, developers, and contractors increasingly embrace modular construction techniques to improve efficiency, reduce project risks, and accelerate delivery schedules.
Becoming part of Everus, he said, will provide Epsilon with additional resources, expanded market opportunities, and the ability to accelerate its next phase of growth while continuing to deliver innovative solutions for customers.
Importantly, Wiederick and several other key members of Epsilon’s leadership team are expected to remain with the business following the acquisition, ensuring continuity for employees, customers, and ongoing projects.
Their continued leadership is expected to facilitate a smooth integration process while preserving the expertise and customer relationships that have contributed to Epsilon’s success over the past quarter century.
The acquisition reflects broader trends reshaping the construction industry.
Off-site modular construction has gained significant momentum in recent years as owners and contractors seek solutions that improve productivity, address skilled labor shortages, shorten construction timelines, and enhance overall project quality.
Manufacturing building systems in factory environments allows work to proceed simultaneously with site preparation, reducing overall project duration and minimizing disruptions caused by adverse weather or on-site logistical challenges.
Modular construction also supports greater sustainability by reducing material waste, improving resource efficiency, and lowering transportation and construction-related emissions through optimized production processes.
As demand continues to grow for data centers, healthcare facilities, advanced manufacturing plants, and other technically complex buildings, integrated modular construction solutions are becoming an increasingly important competitive advantage.
By combining Everus’ broad construction expertise with Epsilon’s specialized engineering and manufacturing capabilities, the transaction creates a stronger platform capable of delivering comprehensive, high-value solutions to customers across North America.
Upon closing, the acquisition is expected to expand Everus’ geographic reach, strengthen its technical capabilities, and reinforce its position as a leading provider of innovative off-site construction solutions.
Together, Everus and Epsilon aim to accelerate the adoption of modular construction technologies while delivering safer, more efficient, and more predictable building solutions that meet the evolving needs of modern construction projects.
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