James Construction sold to California firm

A California-based contractor says it has reached a deal to buy James Construction Group, one of the biggest employers in the Capital Region, for about $135 million. Primoris Service Corporation says it will buy James with a mix of stock, cash and a promissory note. The plan is to make James, which has 1,700 employees locally, a wholly owned subsidiary of Primoris. James CEO Mike Kilgore would continue to run the firm. Primoris, which specializes in construction and engineering for the power and energy sector, says the deal will build up its business in Florida and Texas as well as allow it to enter the Louisiana market. In a statement, Brian Pratt, chairman, president and CEO of Primoris, says the purchase allows the firm to expand its portfolio of services to include heavy civil construction and add a good team of professionals. James posted $410 million in revenues in 2008. Projects the company has worked on include Shintech’s PVC plant in Iberville Parish, the Interstate 10-Mall of Louisiana Boulevard interchange and rebuilding a runway at Metro Airport. The sale is expected to close before the end of the year.