Construction Acquisitions in Washington

Orion Group Holdings, Inc. (NYSE: ORN) has acquired J. E. McAmis, Inc. and JEM Marine Leasing LLC for approximately $60 million (net of cash) to expand its marine construction capabilities, including jetty and breakwater construction and strategic Jones Act assets. Consideration includes $46 million in cash, a $12 million five-year subordinated promissory note at 6% interest, $2 million in Orion common stock, plus contingent project-based payments; Orion expects the deal to be accretive to 2026 adjusted EBITDA.

ORR Protection Systems, Inc. has acquired the business assets of Compass Fire Protection, LLC to add union sprinkler capabilities and strengthen ORR's presence in the Pacific Northwest. The deal expands ORR's integrated fire protection offering—alarm, detection, suppression, sprinkler, and monitoring—and aims to provide turnkey, code-compliant solutions for customers across the region.

MKD Electric, a Hastings Equity Partners portfolio company, has acquired Sea-Tac Electric, a Seattle-based full-service electrical contractor. The add-on expands MKD's physical footprint into the Pacific Northwest and strengthens its capabilities in grocery, manufacturing, retail and healthcare electrical construction.

Groundworks, a Virginia Beach-based foundation and water management platform, has acquired Arlington, Washington-based Rainy Day Basement Systems. The acquisition expands Groundworks' Seattle-area footprint and brings Rainy Day's basement waterproofing and crawl space repair team into the Groundworks network while retaining the local team and offering employees ownership opportunities.

O2 Investment Partners has partnered with Harley Exteriors, a Bothell, Washington-based residential renovation company specializing in replacement windows, doors, and gutters. The investment (terms not disclosed) will support Harley’s organic and inorganic growth as O2 launches Harley as a new platform in the home renovation services market.

Groundworks, a national foundation and water management solutions company, has acquired Seattle-based Matvey Foundation Repair, Inc., marking Groundworks’ first location in Washington and expanding its West Coast footprint. The acquisition brings Matvey’s foundation repair, waterproofing and concrete services into Groundworks’ national platform and offers Matvey employees access to broader resources and ownership opportunities.

Branford Castle Partners II, an affiliate of Branford Castle Partners, has made a strategic investment in Marine Floats, a Tacoma, Washington-based specialty marine contractor that designs, fabricates and installs marinas, floating docks and waterfront structures while providing environmental and permitting advisory services. Branford will partner with founder and President Logan Brown to support growth and expand the company’s offerings and reach across the Pacific Northwest; terms were not disclosed.

New Mountain Capital has partnered with Seattle-based Cumming Group in a growth-oriented transaction in which Tailwind Capital sold its stake while retaining an equity interest alongside New Mountain. Terms were not disclosed; Cumming is an international project and cost management consultancy with 1,100+ employees across 41 offices and will use New Mountain's capital to pursue organic growth and acquisitions.

WestView Capital Partners provided growth financing to support a management-led recapitalization of Prime Electric, a Bellevue, Washington-based electrical services and construction company. The investment will support Prime's growth and expansion of service offerings while preserving existing management ownership and operations.

Griffin Dewatering, a portfolio company of Crossplane Capital, acquired a portion of Slead Construction/Dewatering of Tacoma, Washington to expand its groundwater control and water treatment services in the Pacific Northwest. The deal adds local dewatering capabilities to Griffin’s national platform, which operates ten full-service locations supplying groundwater control services and pumping equipment to the construction industry.

Installed Building Products, Inc. (IBP) has acquired Norkote, Inc., a specialty coatings and insulation installer headquartered in Everett, Washington. The acquisition (terms undisclosed) adds approximately $10 million of annual revenue and expands IBP's commercial presence in Washington and Oregon.

Exchange Income Corporation (EIC) completed the acquisition of all issued and outstanding shares of Window Installation Specialists, Inc. (WIS) for US$45.0 million. The deal integrates WIS into EIC’s Quest Window Systems platform to vertically expand supply-and-install glazing capabilities on the U.S. West Coast; WIS founder and CEO Louis Mark committed to remain in his role.

Skyline Construction Enterprises, Inc. has acquired Seattle-based Unimark Construction Group LLC and its sister company Servicemark LLC as an add-on to its family of commercial real estate and construction companies. The deal expands Skyline’s geographic footprint and capabilities in Seattle while providing succession planning and organizational support for the acquired teams; Unimark and Servicemark will continue operating under their existing brands and teams.