Construction Partners Expands Operations with New Acquisition

Author: Caleb Price Updated: 09-10-2024 04:26 PM

Strategic Growth Through Acquisition

Construction Partners, Inc. (NASDAQ: ROAD) has made significant strides in its expansion efforts with the recent acquisition of John G. Walton Construction Company. This strategic move is not just a typical business transaction; it symbolizes the company's ambition to enhance its market position across the southeastern region. With a robust presence in the civil infrastructure space, Construction Partners is leveraging this acquisition to strengthen its operations.

Enhancing Market Reach

By acquiring John G. Walton Construction Company, Construction Partners has added a vital hot-mix asphalt plant situated in a key area which can be accessed both by water and rail. This new facility expands the company's capabilities and positions it to meet the growing demand in the metro area. The leadership team believes that this acquisition marks a pivotal moment for the company, offering an exceptional opportunity to meet customer needs more efficiently.

Comments from Leadership

Fred J. (Jule) Smith, III, President and Chief Executive Officer, expressed his enthusiasm about the acquisition. He stated, "We are pleased to announce today's acquisition... this transaction provides us with an exceptional location from which to begin serving the dynamic and rapidly growing metro area." His insights reflect the belief that with this acquisition, the company is not only enhancing its service capacity but also reinforcing its commitment to sustainable growth.

Commitment to Infrastructure Development

Construction Partners, Inc. focuses on a wide array of projects, including those funded by public resources. As a vertically integrated civil infrastructure organization, they specialize in the construction, maintenance, and repair of essential surface infrastructure. The projects range from roadways to airport runways and bridges, fulfilling critical roles in connecting communities and promoting economic development.

Private Sector Engagement

In addition to public projects, Construction Partners also actively engages in private sector initiatives. These include paving and site work for industrial parks, shopping centers, and residential developments. This dual approach not only boosts the company's revenue streams but also solidifies its position as a leader in the infrastructure arena.

Future Growth Potential

With this acquisition, Construction Partners has successfully established operations in the four largest markets in the state. The company continues to diligently seek out additional investment opportunities that will enable it to broaden its operational footprint within Alabama and the broader southeastern region. The robust infrastructure and local partnerships will serve as a strong foundation for future growth.

Continuous Improvement and Innovation

As Construction Partners looks to the future, it remains committed to continuous improvement and innovation in its operations. The leadership recognizes the importance of adapting to the evolving infrastructure needs and pursuing projects that not only benefit the company but also contribute positively to the communities served.

About Construction Partners, Inc.

Construction Partners, Inc. is a prominent entity in the civil infrastructure domain, operational across six southeastern states. The company prides itself on its versatility, leveraging assets like hot-mix asphalt plants and liquid asphalt terminals to meet the diverse needs of infrastructure projects. Focusing heavily on public works, Construction Partners ensures that vital local and state roadways and other essential infrastructures receive the attention they require.

Contact Information

For further inquiries or to connect with Construction Partners, reach out to Rick Black or Dennard Lascar Investor Relations. Their dedicated team is ready to provide more information about the company's future plans and ongoing projects. The company remains committed to transparency and open communication as it moves forward in this exciting new chapter.

Frequently Asked Questions

What is the recent acquisition by Construction Partners, Inc.?

Construction Partners, Inc. has acquired John G. Walton Construction Company, enhancing its operational capabilities.

Where is the new hot-mix asphalt plant located?

The new hot-mix asphalt plant is strategically located in a region accessible by water and rail, supporting operations in a key market area.

What types of projects does Construction Partners focus on?

The company specializes in public infrastructure projects including roadways, bridges, and airport runways, as well as private sector developments.

Who leads Construction Partners, Inc.?

Fred J. (Jule) Smith, III serves as the President and Chief Executive Officer of the company.

What is the company's stock ticker symbol?

Construction Partners, Inc. is traded on NASDAQ under the ticker symbol ROAD.

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