Cardinal Infrastructure Raises $550M Credit Facility for Acquisitions

Cardinal Infrastructure Group Inc., a Raleigh, North Carolina-based provider of civil and site development services in the Southeastern United States, has expanded its credit facilities to a total of $550 million. The amendment, filed via a Form 8-K with the U.S. Securities and Exchange Commission on September 11, 2026, includes a $100 million revolving credit facility—up from $75 million—with sub-facilities for letters of credit ($10 million) and swingline loans ($10 million) for working capital and general corporate purposes. Additionally, the company secured a $250 million delayed-draw term loan facility, allowing up to five separate advances over an 18-month period, maturing through March 2028. Existing Term Loan A remains at $200 million, with all three facilities set to mature on September 10, 2031. The proceeds will primarily fund acquisitions and associated fees, reflecting the company’s strategy to expand its capabilities and geographic reach through disciplined acquisitions while maintaining operational flexibility. CEO Jeremy Spivey emphasized the financing’s role in enabling growth through acquisitions, leveraging the company’s in-house teams and equipment. CFO Mike Rowe noted the capital will support strategic expansion while preserving a disciplined balance sheet approach.