Orion Acquires J.E. McAmis, Cementing Position in Marine Infrastructure Boom

SEATTLE, WA – February 26, 2026 – In a significant strategic maneuver within the specialty construction sector, Orion Group Holdings Inc. (NYSE: ORN) has completed its acquisition of J.E. McAmis Inc. and its affiliate, JEM Marine Leasing LLC. The transaction, valued at approximately $60 million, integrates a premier marine construction firm into Orion's expanding platform, signaling a major push to capture a larger share of the burgeoning infrastructure market.

The deal, advised by the mergers and acquisitions firm ACT Capital Advisors, combines J.E. McAmis's nearly 50 years of specialized expertise in complex marine projects with Orion's national scale and resources. This move is poised to enhance Orion's capabilities, particularly in the Pacific Northwest, as federal and state spending on coastal resilience, port modernization, and waterway maintenance continues to surge.

A Strategic Play for a Booming Market

The acquisition is a cornerstone of Orion's long-term growth strategy, which has been aggressively pursued since a management overhaul in 2022. The company has since focused on improving profitability and expanding its market footprint through strategic actions, including a disciplined bidding process and targeted M&A activity. The purchase of J.E. McAmis aligns perfectly with these goals, providing immediate, best-in-class capabilities in jetty and breakwater construction—a technically demanding niche that complements Orion's existing dredging and marine infrastructure services.

Orion's leadership has pointed to the acquisition as a direct path to capitalizing on record demand for marine construction. This demand is fueled by a confluence of powerful drivers, including the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA), increased U.S. Navy spending under the Pacific Deterrence Initiative, and a growing number of climate-driven coastal protection projects. The market's potential is reflected in Orion's own opportunity pipeline, which has swelled from $3 billion to an estimated $18 billion over the past two years.

Financially, the deal is expected to be immediately beneficial, with projections showing it will be accretive to Orion's adjusted EBITDA and margin in 2026. J.E. McAmis brings not only a robust $1.4 billion pipeline of its own opportunities but also tangible assets valued at $34 million, including strategic, Jones Act-compliant marine equipment and valuable real estate holdings. These assets are anticipated to reduce Orion's reliance on third-party rentals and improve overall project margins.

The move is supported by Orion's strong financial footing. The company reported a 12% increase in revenue to $796 million for the full year 2024, with adjusted EBITDA soaring by 76% to $41.9 million. A new $120 million senior credit facility secured in late 2025, which included a $40 million term loan for acquisitions, provided the financial flexibility needed to execute this strategic purchase.

Integrating a Legacy of Expertise

Founded in 1973, J.E. McAmis Inc. carved out a reputation as a leading heavy civil contractor specializing in challenging marine environments. With corporate offices in Chico, California, and satellite yards on both the East and West Coasts, the firm has become a go-to partner for federal agencies, particularly the U.S. Army Corps of Engineers.

Its portfolio includes a wide range of critical services, from dredging and shoreline stabilization to dam maintenance and environmental restoration. The company's expertise is perhaps best demonstrated by its work on massive, multi-year projects, such as the $172 million, ten-year effort to restore the Columbia River's South Jetty, a vital component of the navigation channel. The firm has also secured key projects farther afield, including a dredging contract in Unalaska, Alaska, aimed at improving mariner safety and strengthening the regional supply chain at the Port of Dutch Harbor.

This track record is built on a foundation of top safety practices and performance, earning the company accolades such as the Western Dredging Association's (WEDA) Annual Safety and Environmental Excellence Awards. For J.E. McAmis, the acquisition represents an opportunity to scale its operations and bring its specialized skills to a broader market while ensuring its operational legacy continues.

"We were honored to advise the McAmis team through this process and find a strategic partner that will preserve the culture, people, and legacy they've built—while opening doors to new growth opportunities," said Jeff Jones, Managing Director at ACT Capital Advisors, who led the deal alongside Vice President Ivan Trindev.

The Mechanics of a Mid-Market Deal

The transaction highlights the critical role of M&A advisory firms like ACT Capital Advisors in the lower to middle market. With a 40-year history and over 250 closed transactions, ACT specializes in identifying strategic fits that create value for both buyer and seller. In this case, their role was to connect a highly specialized, family-influenced business with a larger public company that could provide the resources for the next stage of growth.

The synergies between Orion and J.E. McAmis are both operational and strategic. The integration of JEM's highly skilled workforce and specialized equipment fleet immediately expands Orion's capacity. Geographically, JEM's strong West Coast presence gives Orion a more competitive foothold for securing federal contracts in the region. The cultural alignment, cited by Orion's leadership, is also a key factor, with both companies sharing a strong focus on safety and on-time project execution, which is expected to smooth the integration process.

Beyond expertise, the acquisition provides Orion with a fleet of Jones Act-compliant vessels and marine yards on both the Columbia River in Washington and the St. Lucie Waterway in Florida. This physical infrastructure is crucial in an industry with high barriers to entry.

Navigating a Sector with High Barriers

The U.S. marine construction and dredging industry is a notoriously difficult market to enter. The Jones Act, a federal law, prohibits foreign-built, foreign-owned, or foreign-flagged vessels from operating in U.S. waters, effectively insulating the domestic market from foreign competition. Furthermore, the immense capital investment required for specialized equipment, the need for a highly certified workforce, and the long-standing relationships required to win federal contracts create a significant moat around established players.

For this reason, strategic acquisitions are one of the most effective ways to grow market share. By purchasing J.E. McAmis, Orion has not just acquired projects and revenue; it has acquired decades of experience, a proven safety record, and a fleet of specialized assets that would be difficult and time-consuming to replicate organically. The combined entity is now better positioned than ever to pursue the larger, more technically complex contracts emerging from the nation's historic investment in its infrastructure, ensuring its role as a key builder of America's waterways and coastlines for years to come.