On Thursday, James Construction Group LLC, a Baton Rouge, La.-based construction company was acquired by Primoris Services Corp., a Lake Forest-based construction and engineering company for $135 million. James Construction was founded in the year 1998 and worked for both government and private clients extending from Texas to Florida. Last year only, it generated revenue of $410 million.

According to reports, it saw a profit of $33 million last year. James Construction is being acquired by Primoris for $7 million in cash, a five-year $53.5 million promissory note and shares of Primoris with stock set at $64.5 million. James Construction is also expecting incentives of $10 million from the common stock of Primoris.

James Construction will be controlled by Primoris. The business of James Construction will continue to be operated by the present management team led by Mike Killgore, who is the current chief executive of the company. Primoris is moving ahead with its second acquisition after Houston-based Cravens Partners Ltd. which was taken over without even disclosing the exact amount of cash and stock involved.

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