Johns Lyng Group has bought US water and fire damage restoration company Steamatic for $US3.1 million ($4.33 million).

The acquisition will help Johns Lyng expand its restoration and building services into international markets.

The US market is estimated to be worth $US200 billion ($279.33 billion).

Steamatic owner Bill Sims will retire over the expected earnout period, while President Stefan Figley will continue in his role.

“Water restoration services is one of the central pillars upon which our brand is built, so the opportunity to take that expertise and track record to a large overseas market is significant,” the Johns Lyng CEO Scott Didier said.

“There is a strong opportunity for our insurance building and general contracting business in particular.”

Steamatic Australia owner and CEO Oliver Threlfall says his company uses the brand under licence to the US company, but the sale will have no direct effect on his company’s operations.