Construction Partners, Inc. Completes Georgia Acquisition

Staff Report From Georgia CEO

Friday, May 3rd, 2024

Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, today announced that it has acquired the asphalt manufacturing and construction operations of Sunbelt Asphalt Surfaces, Inc., headquartered in Auburn, Georgia. In connection with the transaction, the Company added one active hot-mix asphalt plant in Auburn, Georgia and related crews and equipment. In addition, the transaction included a greenfield hot-mix asphalt plant in Commerce, Georgia that CPI expects to activate this summer. 

Fred J. (Jule) Smith, III, the Company's President and Chief Executive Officer, said, "The Interstate 85 corridor from Atlanta to Charlotte continues to represent a key strategic area of geographic focus for our Company in light of its continued economic growth, favorable demographics, and healthy 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, reinforcing the solid reputation for quality and dependability that Sunbelt has built in the north Georgiamarket. We are pleased to enter into this new dynamic growth area and welcome the Sunbelt employees into our growing CPI family."