James Construction bought by California company

By The Associated Press

Thursday, November 19, 2009

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A California-based holding company has agreed to a $135 million deal to acquire James Construction Group LLC, one of the largest privately held construction companies in the Southeast.

The deal by Primoris Services Corp. consists of $7 million in cash, a $53.5 million note and $64.5 million in Primoris stock.

Baton Rouge-based James Construction Group has 1,700 employees and does business throughout the Gulf Coast region.

Primoris, based in Lake Forest, Calif., is a holding company of contractors and engineering companies.

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Information from: The Advocate, http://www.2theadvocate.com

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