Orion Group Holdings (ORN) Company Report

Orion announced the acquisition of J.E. McAmis and JEM Marine Leasing, a specialized heavy civil contractor, on February 4, 2026.
The purchase consideration is $60 million, consisting of $46 million in cash, a $12 million 5-year, 6% subordinated promissory note, and $2 million in Orion common equity, with additional contingent consideration of $10 million based on project profit.
McAmis reported annual average revenues of $38 million with average EBITDA margins consistently over 20% from 2022 to 2024, and contributes an incremental opportunity pipeline of over $1.4 billion to Orion.
The acquisition was funded by $46 million in borrowings under Orion's new credit facility, which includes a $40 million acquisition term loan and $6 million from its revolver, resulting in a post-acquisition leverage ratio of approximately one turn.
This acquisition strengthens Orion's marine construction capabilities, expands its West Coast presence, and adds strategic marine equipment and real estate appraised at over $34 million.

13 hours ago

Transcript

Orion Acquires J.E. McAmis and JEM Marine Leasing

ORN

M&A

New Projects/Investments

Orion (ORN) announced the acquisition of J.E. McAmis and JEM Marine Leasing for a total purchase consideration of $60 million, consisting of $46 million in cash, a $12 million 5-year, 6% subordinated promissory note, and $2 million of Orion common equity.
The acquisition is expected to increase Orion's scale and capacity, add a highly skilled workforce, strategic marine equipment, and new capabilities in specialized marine solutions such as jetty and breakwater construction, strengthening its West Coast presence.
J.E. McAmis reported annual average revenues of $38 million with average EBITDA margins consistently above 20% from 2022 to 2024, and brings an opportunity pipeline of over $1.4 billion.
McAmis closed December 12, 2025, with approximately $24 million in backlog, and its founders, John McAmis Jr. and Scott Vandegrift, have joined Orion's leadership team.

13 hours ago

Transcript

Orion Acquires J.E. McAmis and JEM Marine Leasing

ORN

M&A

New Projects/Investments

Revenue Acceleration/Inflection

Orion (ORN) announced the acquisition of J.E. McAmis and JEM Marine Leasing, a specialized heavy civil contractor, marking its first acquisition since 2017.
The purchase consideration for the acquisition is $60 million, consisting of $46 million in cash (net of cash acquired), a $12 million 5-year, 6% subordinated promissory note, and $2 million of Orion common equity.
From 2022 to 2024, McAmis posted annual average revenues of $38 million with average EBITDA margins consistently in the 20%+ range, and as of December 12, 2025, had a backlog of approximately $24 million and an opportunity pipeline of over $1.4 billion.
This acquisition is expected to strengthen Orion's marine construction position, expand its service offerings, and bolster its presence on the West Coast, adding capabilities in jetty and breakwater construction and strategic marine equipment.
The acquisition was funded by borrowings under a new credit facility, including a $40 million acquisition term loan and $6 million from its revolver, with Orion's leverage ratios expected to be around one turn following the transaction.

14 hours ago

Transcript

Orion Group Holdings Acquires J. E. McAmis

ORN

M&A

New Projects/Investments

Guidance Update

Orion Group Holdings, Inc. acquired J. E. McAmis, Inc. and JEM Marine Leasing LLC for approximately $60 million, net of cash acquired, on February 4, 2026.
The acquisition strengthens Orion's marine construction business, adding a robust $1.4 billion pipeline of opportunities and $34 million in marine and real estate assets from J.E. McAmis.
Orion expects this acquisition to be accretive to its 2026 adjusted EBITDA and margin.

17 hours ago

Press Release

Orion Group Holdings acquires J.E. McAmis for $60 million

ORN

M&A

New Projects/Investments

Orion Group Holdings, Inc. completed the acquisition of J.E. McAmis, Inc. and JEM Marine Leasing LLC for approximately $60 million, net of cash acquired, on February 3, 2026.
The purchase consideration included $46 million in cash (funded through Orion's credit facility), a $12 million, 5-year subordinated promissory note, and $2 million in Orion common stock (182,392 shares).
Additional contingent payments are tied to project profit from backlog and near-term pursuits, potentially including $10 million on profit earned on projects in backlog plus 40% of profit on select near-term pursuits.
J.E. McAmis, a heavy civil marine contractor, reported $38 million in average annual revenue (2022-2024) and $24 million in backlog as of December 31, 2025.
Orion expects the acquisition to be accretive to its adjusted EBITDA and margin in 2026.

18 hours ago

8-K

Orion announces acquisition of J.E. McAmis

ORN

M&A

New Projects/Investments

Orion (ORN) announced the acquisition of J.E. McAmis, a heavy civil marine contractor, on February 4, 2026.
The total consideration for the acquisition is $60 million, comprising $46 million in cash, a $12 million 5-year subordinated promissory note, and $2 million in Orion common stock, with an additional $10 million contingent consideration.
J.E. McAmis reported an average annual revenue of $38 million (2022, 2023, and 2024), a backlog of $24 million, and an opportunity pipeline of $1.4 billion as of December 31, 2025.
The acquisition is expected to be accretive to Orion's adjusted EBITDA and margin, aligning with its strategy to enhance its marine construction capabilities and geographic footprint.

18 hours ago

Presentation

Orion-led consortium seeks 40% Glencore DRC stake

ORN

New Projects/Investments

M&A

The US-backed Orion Critical Mineral Consortium (Orion CMC), led by Orion Resource Partners, has signed a non-binding memorandum to acquire a 40% stake in Glencore’s Mutanda Mining and Kamoto Copper Company in the Democratic Republic of Congo.
This proposed deal values the assets at approximately $9 billion and aims to secure critical copper and cobalt supplies for electric vehicles, energy transition, and national-security supply chains.
Orion CMC would gain board representation and the right to market its share of production, while Glencore would continue to manage day-to-day operations.
The transaction is presented as part of the US-DRC Strategic Partnership to encourage US investment and build resilient critical mineral supply chains, amidst competition with China.

1 day ago

Morningstar

Orion Corporation Updates Nubeqa® Net Sales Potential Estimate

ORN

Guidance Update

Revenue Acceleration/Inflection

Orion Corporation has provided an updated time estimate regarding the potential for annual Nubeqa® net sales recorded by the company.
Nubeqa® has become Orion's largest product, and its financial significance for the company is expected to increase further.
Orion estimates that the annual Nubeqa® net sales recorded by the company (tablet sales to Bayer + royalties) has the potential to exceed EUR 1 billion in the future.
The company currently estimates that this annual net sales potential of over EUR 1 billion could be realized by the end of the current decade.

Jan 14, 2026, 2:00 PM

Press Release

Orion Corporation Provides 2026 Outlook and Nubeqa® Sales Potential

ORN

Guidance Update

Revenue Acceleration/Inflection

Orion estimates its annual Nubeqa® net sales have the potential to exceed EUR 1 billion in the future.
For 2026, Orion forecasts net sales to be between EUR 1,900 million and EUR 2,100 million.
The company also projects an operating profit for 2026 ranging from EUR 550 million to EUR 750 million.
The Nubeqa® product is expected to be the single biggest factor influencing the 2026 net sales and operating profit, with its net sales anticipated to continue strong growth.

Jan 14, 2026, 6:30 AM

Press Release

Bravo Mining Corp. Increases Common Share Offering to C$75 Million and Secures C$34.75 Million Private Placement

ORN

New Projects/Investments

Debt Issuance

Bravo Mining Corp. increased its common share offering to 17,050,000 shares at C$4.40 per share, aiming for approximately C$75 million in gross proceeds, with an expected closing date around January 20, 2026.
Concurrently, Bravo entered into a non-binding term sheet with Orion Mine Finance Management LLP for a private placement, where Orion will subscribe for 7,897,727 common shares at the same price, generating C$34,750,000.
The net proceeds from both the offering and private placement will be utilized to advance the Luanga PGM+Au+Ni Project, expand mineral resources, and for general working capital purposes.
Orion also intends to commit up to US$300 million in future financing support, including equity and debt, contingent upon the satisfaction of mutually agreed milestones.