DOTHAN, Ala., Jan. 3, 2025 /PRNewswire/ — Construction Partners, Inc. (NASDAQ: ROAD) (“CPI”), a leading vertically integrated civil infrastructure company, today announced a strategic acquisition that significantly expands its market presence. The company has successfully acquired Overland Corporation (“Overland”), a prominent asphalt manufacturing and paving company headquartered in Ardmore, Oklahoma. This acquisition marks Construction Partners Inc.’s entry into its eighth state, strengthening its position in the high-growth Sunbelt region.
Overland Corporation brings to Construction Partners Inc. a robust network of eight hot-mix asphalt plants strategically located to serve the thriving markets of southern and western Oklahoma, as well as northern Texas. Overland has built a strong reputation providing paving services for a diverse portfolio of projects, spanning public infrastructure, commercial developments, and residential construction.
Fred J. (Jule) Smith, III, President and Chief Executive Officer of CPI, commented on the acquisition: “We are thrilled to welcome Overland Corporation to the Construction Partners Inc. family. This transaction is a significant step in our growth strategy, allowing us to establish a presence in Oklahoma and further penetrate the expanding northern Texas market. Overland, under the leadership of founder Reggie Sullivan and President Darren Ratajski, has become a respected leader in its region. We are excited to partner with the Overland team and support their continued success in capturing organic and acquisitive growth opportunities. This acquisition aligns perfectly with our operational and cultural values, and importantly, supports our commitment to reducing CPI’s leverage ratio to approximately 2.5x to facilitate sustained and profitable growth.”
Construction Partners, Inc.: Your Partner in Infrastructure Development
Construction Partners Inc. operates as a vertically integrated civil infrastructure company, focusing on the construction and maintenance of vital surface infrastructure across the rapidly growing Sunbelt region. With operations now spanning Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas, Construction Partners Inc. is a trusted name in the industry. The company’s integrated business model, featuring hot-mix asphalt plants, aggregate facilities, and liquid asphalt terminals, provides a competitive advantage in delivering high-quality infrastructure solutions.
CPI’s expertise encompasses a wide range of projects, with a strong focus on publicly funded initiatives. These include the construction, repair, and maintenance of essential infrastructure such as local and state roadways, interstate highways, airport runways, and bridges. Construction Partners Inc. also serves the private sector, providing paving and site work services for office and industrial parks, shopping centers, local businesses, and residential developments.
For more information about Construction Partners Inc. and its services, please visit www.constructionpartners.net.
Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, as defined by federal securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Factors that could impact these forward-looking statements are detailed in Construction Partners Inc.‘s filings with the Securities and Exchange Commission, including their most recent Annual Report on Form 10-K. Forward-looking statements are effective only as of the date made, and Construction Partners Inc. undertakes no obligation to update these statements to reflect future events or circumstances, except as required by law.
Contact:
Rick Black / Ken Dennard
Dennard Lascar Investor Relations
[email protected]
(713) 529-6600
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SOURCE Construction Partners, Inc.
