Construction Partners (NASDAQ: ROAD) acquires P&S Paving

Construction Partners, Inc. (NASDAQ: ROAD) announced it has acquired P&S Paving, Inc., a Daytona Beach-based infrastructure company, expanding its operations into Florida’s east coast markets.

P&S Paving operates two hot-mix asphalt plants and provides paving, sitework and utility services throughout northeast and central Florida. The acquired operations will be integrated into Construction Partners’ existing Florida platform company, C.W. Roberts Contracting, Incorporated.

The acquisition gives Construction Partners access to the Interstate 95 corridor, where the company identified infrastructure demand and growth opportunities. P&S Paving’s assets include plants, crews and equipment that will support the expanded geographic footprint.

“This transaction expands our footprint into several markets and enhances our ability to deliver asphalt and infrastructure services throughout the east coast of Florida, a rapidly growing portion of the state,” said Fred J. Smith III, Construction Partners’ president and chief executive officer.

Curtis Long will lead the acquired operations going forward. Tim Phillips was the former owner of P&S Paving.

Construction Partners operates as a vertically integrated civil infrastructure company in Sunbelt markets across Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. The company focuses on construction, repair and maintenance of surface infrastructure, with publicly funded projects comprising the majority of its business.