Construction Partners, Inc. Completes Florida Acquisition
Construction Partners expands its Florida Panhandle footprint by acquiring Roads, Inc. of NWF and integrating over 150 employees into CWR.
Rhea-AI Summary
Construction Partners (ROAD) has acquired Roads, Inc. of NWF, an asphalt manufacturing and construction business based in Cantonment, Florida.
Roads, Inc. provides asphalt paving, roadway construction and disaster response debris removal services across Florida, Alabama and the broader southeastern United States. As part of the transaction, Construction Partners acquired a hot-mix asphalt plant located north of Pensacola, along with related crews and equipment. The acquired business will be integrated into the company’s Florida platform, C.W. Roberts Contracting (CWR).
The company said the deal expands CWR’s operations in the Florida Panhandle and is expected to enhance service to public and private infrastructure customers in this growing region. Construction Partners will add more than 150 Roads, Inc. employees to CWR, with management highlighting the value of their local relationships, construction capabilities and reputation for quality work.
Positive
- Acquisition of Roads, Inc. of NWF expands Florida Panhandle operations and customer coverage
- Strategically located hot-mix asphalt plant north of Pensacola added to asset base
- More than 150 employees from Roads, Inc. join C.W. Roberts Contracting
Negative
- None.
Key Figures
- New employees
- More than 150 employees
- Florida acquisition
Previous Acquisition Reports
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Acquired a liquid asphalt supply and hauling business in Oklahoma
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Added asphalt plants and data center project exposure in Oklahoma
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Integrated a Nashville-area commercial asphalt paving contractor
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Added a hot-mix asphalt plant east of Houston
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Added two plants and paving services across Florida
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
hot-mix asphalt technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Transaction Expands Company's Operations in Florida Panhandle
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "We are pleased to welcome the Roads, Inc. team to the CPI family of companies. This transaction expands CWR's operations in the Florida Panhandle and enhances our ability to serve public and private infrastructure customers throughout this growing region. Roads, Inc.'s strategically located hot-mix asphalt plant, as well as its experienced workforce, construction capabilities and established local relationships, will complement CWR's existing operations and position us to better serve customers across the Panhandle and beyond. We welcome more than 150 talented new employees to CWR and look forward to building upon Roads, Inc.'s reputation for quality work and reliable service as part of our family of companies."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating in local markets throughout the Sunbelt in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals, CPI focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained herein that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words such as "seek," "continue," "estimate," "predict," "potential," "targeting," "could," "might," "may," "will," "expect," "should," "anticipate," "intend," "project," "outlook," "believe," "plan" and similar expressions or their negative. The forward-looking statements contained in this press release include, without limitation, statements relating to the benefits of a business acquisition and the expected results of the acquired business. These and other forward-looking statements are based on management's current views and assumptions and involve risks and uncertainties that could significantly affect expected results. Important factors that could cause actual results to differ materially from those expressed in the forward-looking statements are set forth in the Company's most recent Annual Report on Form 10-K, its subsequent Quarterly Reports on Form 10-Q, its Current Reports on Form 8-K and other reports the Company files with the SEC. Forward-looking statements speak only as of the date they are made. The Company assumes no obligation to update forward-looking statements to reflect actual results, subsequent events, or circumstances or other changes affecting such statements except to the extent required by applicable law.
Contact:
Rick Black
Investor Relations
ROAD@DennardLascar.com
(713) 529-6600
View original content:https://www.prnewswire.com/news-releases/construction-partners-inc-completes-florida-acquisition-302885046.html
SOURCE Construction Partners, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What business did Construction Partners acquire and where is it based?
Construction Partners acquired Roads, Inc. of NWF, an asphalt manufacturing and construction business headquartered in Cantonment, Florida. The company operates across Florida, Alabama and the southeastern United States.
What assets were included in the Roads, Inc. transaction?
In connection with the acquisition, Construction Partners obtained a hot-mix asphalt plant located north of Pensacola, along with related crews and equipment.
How will the acquired operations be integrated into Construction Partners?
The acquired Roads, Inc. operations will become part of Construction Partners’ Florida platform company, C.W. Roberts Contracting (CWR), expanding CWR’s presence in the Florida Panhandle.
How many Roads, Inc. employees are joining Construction Partners?
Construction Partners stated that it is welcoming more than 150 Roads, Inc. employees into C.W. Roberts Contracting as part of the transaction.