Construction Partners, Inc. Completes North Carolina Acquisition
Company Acquires Hot-Mix Asphalt Plant in Charlotte Metro Area
DOTHAN, Ala., Sept. 10, 2021 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) (the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has acquired C.K. Earnhardt & Son, Incorporated, headquartered in Albemarle, North Carolina. As a result of the acquisition, the Company added a hot-mix asphalt plant, personnel and equipment in the greater Charlotte metropolitan area.
Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "Today's transaction represents a further expansion of our geographic footprint within North Carolina, a state that we believe has tremendous potential for continued growth in light of favorable demographic trends and a healthy infrastructure funding program. In particular, with a plant in Albemarle, we expect to be able to participate in the ongoing eastward development of the Charlotte metro area."
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 53 hot-mix asphalt plants, 14 aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company's public projects are maintenance-related. Private sector projects 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.
Dennard Lascar Investor Relations
SOURCE Construction Partners, Inc.
Released September 10, 2021