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 Riley Paving, Inc., an asphalt and paving contractor based in Carthage, North Carolina. Among other things, the acquisition adds four hot-mix asphalt plants in central North Carolina, providing the Company with access to additional markets and expanding its footprint in the state.
“We are pleased to announce today’s acquisition,” said Fred J. (Jule) Smith, III, the Company’s Chief Operating Officer. “Our growth strategy focuses on identifying and integrating complementary businesses with geographic and cultural synergies, which this acquisition exemplifies. We now operate 39 hot-mix asphalt plants that represent distinct local markets for CPI across our southeastern footprint.”
Jason Williams, President of Fred Smith Company, the Company’s North Carolina subsidiary, added, “We welcome our more than 70 new employees and look forward to continuing to improve North Carolina’s transportation infrastructure together.”