Transaction Adds Five Hot-Mix Asphalt Plants
Serving Southwest Alabama
DOTHAN,
Ala., Feb. 3, 2025 /PRNewswire/ -- Construction
Partners, Inc. (NASDAQ: ROAD) (the "Company"), a vertically
integrated civil infrastructure company specializing in the
construction and maintenance of roadways in local markets across
the Sunbelt, today announced that it has acquired Mobile Asphalt
Company LLC, an asphalt manufacturing and paving company
headquartered near Mobile,
Alabama. In connection with the transaction, the Company
added five hot-mix asphalt plants and related crews and equipment
serving the greater Mobile and
southwestern Alabama market
areas.
Fred J. (Jule) Smith, III, the
Company's President and Chief Executive Officer, said, "Today's
transaction represents a significant expansion of our presence in
the Mobile metro area and the
surrounding southwestern Alabama
markets following our initial entry into the market last September
with our acquisition of John G. Walton Construction Company.
We believe Mobile Asphalt Company's strategically located plants
and experienced crews will complement our existing operations in
the area while benefiting from the heightened economic activity
driven by the Port of Mobile and
development along Alabama's Gulf
Coast, which is one of the fastest-growing areas of the state. We
expect this business to continue operating as a new branded
division of our Alabama platform
company, Wiregrass Construction Company, under its Mobile Asphalt
Company name, honoring the legacy of quality workmanship that the
Mobile Asphalt Company name has come to represent."
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, 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 / Ken Dennard
Dennard Lascar Investor
Relations
ROAD@DennardLascar.com
(713) 529-6600
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SOURCE Construction Partners, Inc.
