Construction Partners, Inc. Completes South Carolina Platform Company Acquisition
Adds Three Hot-Mix Asphalt Plants
DOTHAN, AL, October 4, 2021 – 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 King Asphalt, Inc. (“King”), a full-service hot-mix asphalt and paving company headquartered in Liberty, South Carolina. With three hot-mix asphalt plants in the Greenville, South Carolina metro area, King provides asphalt contracting services for a variety of public, commercial and residential projects.
Fred J. (Jule) Smith, III, the Company’s President and Chief Executive Officer, said, “We are pleased to welcome King Asphalt to the Construction Partners family of companies. Under the continuing leadership of Mike Crenshaw and his talented team, we believe King is well-positioned to participate in the dynamic economy and rapid growth occurring in the Upstate region of South Carolina. While we have worked in South Carolina for many years, we are excited to now have a platform company with three hot-mix asphalt plants, skilled crews and an experienced management team to lead future expansion in the state.”
About Construction Partners, Inc.
Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 56 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.
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Rick Black / Ken Dennard
Dennard Lascar Investor Relations