Construction Partners, Inc. Announces Closing of Lone Star Paving Acquisition
Construction Partners, Inc. (ROAD)
Last construction partners, inc. earnings: 2/7 07:00 am
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Source: PR Newswire
Lone Star Paving Becomes Texas Platform CompanyCompany Raises Fiscal 2025 Outlook to Reflect November ClosingDOTHAN, Ala., Nov. 4, 2024 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets throughout the Sunbelt, today announced that it has completed its previously announced acquisition of Asphalt Inc., LLC d/b/a Lone Star Paving ("Lone Star"), a vertically integrated asphalt manufacturing and paving company operating in attractive high-growth markets in central Texas.Fred J. (Jule) Smith, III, CPI's President and Chief Executive Officer, said, "This is an exciting day for CPI, and we are pleased to welcome the Lone Star team to the CPI family of companies. Lone Star is a uniquely complementary cultural fit within CPI, with its focus on operational excellence, employee advancement and smart vertical integration initiatives.
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