Company Enhances Asphalt and Sitework
Business in Panhandle
DOTHAN,
Ala., March 18, 2022 /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 the
asphalt, grading and sitework operational assets of GAC
Contractors, Inc., including its hot-mix asphalt plant in
Panama City, Florida.
Fred J. (Jule) Smith, III, the
Company's President and Chief Executive Officer, said, "Today's
transaction represents our third acquisition in the Florida panhandle in the past two years,
reflecting our commitment to this dynamic and growing area of the
Southeast. The addition of GAC's assets and crews meaningfully
enhances our operational resources and capabilities in an existing
growth market. At a time when attracting and retaining talent is
paramount, we are pleased to welcome more than 200 former GAC
employees to our team."
About Construction Partners,
Inc.
Construction Partners, Inc. is a vertically integrated civil
infrastructure company operating across five southeastern states,
with 57 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.
Contact:
Rick Black
Dennard Lascar Investor
Relations
ROAD@DennardLascar.com
(713) 529-6600
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SOURCE Construction Partners, Inc.