Adds Three Hot-Mix Asphalt Plants in North and
South Carolina
DOTHAN,
Ala., Nov. 1, 2023 /PRNewswire/ -- Construction
Partners, Inc. (NASDAQ: ROAD) (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 from Reeves
Construction Company three hot-mix asphalts plants and related
construction operations in Concord, North
Carolina and Rock Hill and
McConnells, South Carolina.
Fred J. (Jule) Smith, III, the
Company's President and Chief Executive Officer, said, "We entered
the Charlotte market last year
through our acquisition of Ferebee Corporation and the Upstate
region of South Carolina two years
ago through our acquisition of King Asphalt, Inc. In both areas, we
continue to experience a strong economic climate, favorable
demographic trends and other tailwinds supporting the need for
infrastructure services. With today's acquisition, we are
even better positioned to meet this demand and to grow our
organization within these dynamic and thriving markets."
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
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SOURCE Construction Partners, Inc.