Company Expands into North Georgia Along
High-Growth Interstate 85 Corridor
DOTHAN,
Ala., May 1, 2024 /PRNewswire/ --
Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the
"Company"), a vertically integrated civil infrastructure company
specializing in the construction and maintenance of roadways across
six southeastern states, today announced that it has acquired the
asphalt manufacturing and construction operations of Sunbelt
Asphalt Surfaces, Inc., headquartered in Auburn, Georgia. In connection with the
transaction, the Company added one active hot-mix asphalt plant in
Auburn, Georgia and related crews
and equipment. In addition, the transaction included a greenfield
hot-mix asphalt plant in Commerce,
Georgia that CPI expects to activate this
summer.
Fred J. (Jule) Smith, III,
the Company's President and Chief Executive Officer, said, "The
Interstate 85 corridor from Atlanta to Charlotte continues to represent a
key strategic area of geographic focus for our Company in light of
its continued economic growth, favorable demographics, and healthy
local and state funding programs. Sunbelt will operate as a new
branded division of our Georgia
platform company, The Scruggs Company, under its Sunbelt Asphalt
Surfaces name, reinforcing the solid reputation for quality and
dependability that Sunbelt has built in the north Georgia market. We are pleased to enter into
this new dynamic growth area and welcome the Sunbelt employees into
our growing CPI family."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated
civil infrastructure company operating across six southeastern
states. Supported by its hot-mix asphalt plants, aggregate
facilities and liquid asphalt terminals, the Company 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
Dennard Lascar Investor
Relations
ROAD@DennardLascar.com
(713) 529-6600
View original
content:https://www.prnewswire.com/news-releases/construction-partners-inc-completes-georgia-acquisition-302133478.html
SOURCE Construction Partners, Inc.