Construction Partners, Inc. Completes North Carolina Acquisition

Construction Partners, Inc | November 03, 2020

Construction Partners, Inc. (NASDAQ: ROAD) (the "Company" or "Construction Partners"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has acquired Rose Brothers Paving Company, Inc., an asphalt and paving contractor based in Ahoskie, North Carolina. The transaction adds six hot-mix asphalt plants in eastern North Carolina, providing the Company with access to additional markets and expanding its footprint in the state.  The Company expects to continue to operate under the name "Rose Brothers Paving Company" in certain of the acquired markets. "This transaction represents an important strategic step for our organization as we expand into new North Carolina markets," said Fred J. (Jule) Smith, III, Chief Operating Officer of Construction Partners. "We welcome our new team members and look forward to a bright future in these market areas under the continuing leadership of Tim Rose and his team." Smith continued, "We are bullish on the North Carolina market and believe that long-term demographic trends and recent transportation funding initiatives are creating tailwinds for infrastructure and economic development in the state. As a result of the Rose Brothers transaction and our previously announced acquisition of Riley Paving, Inc. in October, we now have 15 hot-mix asphalt plants strategically located throughout North Carolina and 45 hot-mix asphalt plants company-wide."

Spotlight

Developing new technology, be it hardware- or softwarebased, is inherently a team-oriented activity. Writing innovative software or designing and building programmable hardware components requires engineers with a high degree of specialization. More and more, these multi-discipline engineering teams live and work in different remote offices, often times in different countries separated by distance and time zones.

Spotlight

Developing new technology, be it hardware- or softwarebased, is inherently a team-oriented activity. Writing innovative software or designing and building programmable hardware components requires engineers with a high degree of specialization. More and more, these multi-discipline engineering teams live and work in different remote offices, often times in different countries separated by distance and time zones.

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PCA | April 12, 2021

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