Construction Partners Inc. (NASDAQ: ROAD), headquartered in Dothan, Alabama, has acquired Roads Inc. of NWF, an asphalt manufacturing and construction business based in Cantonment, Florida. The transaction includes a hot-mix asphalt plant located north of Pensacola, along with related crews and equipment. The acquired operations will be integrated into C.W. Roberts Contracting, Incorporated, CPI's Florida platform company. The acquisition adds more than 150 employees to the company's workforce. The press release did not disclose the financial terms of the acquisition.
Roads Inc. provides asphalt paving, roadway construction, and disaster response debris removal services throughout Florida, Alabama, and the southeastern United States. Construction Partners is a civil infrastructure company operating across the Sunbelt, specifically in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. Its business focuses on the construction, repair, and maintenance of surface infrastructure, with publicly funded projects comprising the majority of its business.
Fred J. Smith III, President and Chief Executive Officer of Construction Partners, stated: "This transaction expands CWR’s operations in the Florida Panhandle and enhances our ability to serve public and private infrastructure customers throughout this growing region."
