CPI Enhances Presence in Existing Growth
Markets: Expands Services, Adds Crews & Equipment
DOTHAN,
Ala., Jan. 3, 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 SJ&L
General Contractor, LLC, a hot-mix asphalt and sitework company
headquartered in Huntsville,
Alabama, and Littlefield Construction Company, a soil base,
surface treatment and sitework company headquartered in
Waycross, Georgia.
Fred J. (Jule) Smith, III, the
Company's President and Chief Executive Officer, said, "A key
component of our growth strategy is to actively expand service
capabilities within existing markets. Both the SJ&L and
Littlefield acquisitions expand our services offerings in existing
markets while also adding valuable crews and equipment."
Smith continued, "The greater Huntsville metro area and Interstate 65
corridor continue to experience tremendous growth, and we look
forward to integrating the SJ&L team with our existing
operations at our Alabama platform
company, Wiregrass Construction Company. As a combined
organization, we can now offer turnkey services spanning the
construction value chain on both private and public project
opportunities within this market. Likewise, our Georgia platform company, The Scruggs Company,
entered the Waycross market just a
few months ago through the establishment of a greenfield hot-mix
asphalt plant. Now having acquired Littlefield, we are even better
positioned to capitalize on a robust surface treatment market and
to offer a full range of infrastructure services from a strategic
location that can reach from the Port of Brunswick on the Atlantic coast into
south-central Georgia. We are
pleased to expand both of these crucial growth markets and proud to
welcome the employees of SJ&L and Littlefield into our
continually 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 business
acquisitions and the expected results of the acquired businesses.
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
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SOURCE Construction Partners, Inc.