Construction Partners expands operations with strategic acquisition in Georgia
Construction Partners, Inc. (NASDAQ: ROAD), a prominent civil infrastructure company, has significantly expanded its operations with the recent acquisition of Sunbelt Asphalt Surfaces, Inc.’s asphalt manufacturing and construction operations. Headquartered in Auburn, Georgia, this strategic acquisition includes an active hot-mix asphalt plant in Auburn, and an additional greenfield plant in Commerce, Georgia, slated for activation this summer.
Enhancing Geographic Focus and Capabilities
Fred J. (Jule) Smith, III, President and CEO of Construction Partners, highlighted the strategic importance of the Interstate 85 corridor from Atlanta to Charlotte, noting its ongoing economic growth, favorable demographics, and robust local and state funding programs. “Sunbelt will operate as a new branded division of our Georgia platform company, The Scruggs Company, under its Sunbelt Asphalt Surfaces name,” stated Smith. This move is set to reinforce the solid reputation for quality and dependability that Sunbelt has established in the north Georgia market.
Construction Partners expands operations with strategic acquisition in Georgia
Broadening Construction Partners’ Market Reach
This acquisition is not just a growth strategy for Construction Partners, Inc.; it also represents an alignment with the company’s larger goals of enhancing its service offerings and market presence across the southeastern United States. CPI’s integration of the Sunbelt operations into its existing framework is expected to leverage and expand its existing infrastructure capabilities significantly.
Impact on Local Infrastructure and Economy
Construction Partners, Inc. operates across six southeastern states, focusing primarily on publicly funded projects, including local and state roadways, interstate highways, airport runways, and bridges. The company also undertakes private sector projects such as paving and sitework for various developments. The addition of Sunbelt’s operations is anticipated to bolster CPI’s capacity to manage a broader range of projects and enhance its influence in regional development.
This acquisition marks a significant milestone for Construction Partners, Inc., enhancing its operational capabilities and reinforcing its commitment to quality and efficiency in the infrastructure sector.