{"id":845661,"date":"2025-05-01T16:50:38","date_gmt":"2025-05-01T20:50:38","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-acquires-platform-company-in-tennessee\/"},"modified":"2025-05-01T16:50:38","modified_gmt":"2025-05-01T20:50:38","slug":"construction-partners-inc-acquires-platform-company-in-tennessee","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-acquires-platform-company-in-tennessee\/","title":{"rendered":"Construction Partners, Inc. Acquires Platform Company in Tennessee"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p class=\"prntac\">\n        <i>Company Expands Infrastructure Business in <span class=\"xn-location\">Tennessee<\/span> with Experienced Management Team<\/i>\n      <\/p>\n<p class=\"prntac\">\n        <i>Adds Hot-Mix Asphalt Plant and Specialized Pavement Preservation Business<\/i>\n      <\/p>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">DOTHAN, Ala.<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">May 1, 2025<\/span><\/span> \/PRNewswire\/ &#8212; Construction Partners, Inc. (NASDAQ: ROAD) (&#8220;CPI&#8221; or the &#8220;Company&#8221;), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets across the Sunbelt, today announced that it has acquired PRI of <span class=\"xn-location\">East Tennessee<\/span>, Inc., an asphalt manufacturing and construction business headquartered in <span class=\"xn-location\">Knoxville, Tennessee<\/span>, and Pavement Restorations, Inc., a pavement preservation business headquartered in <span class=\"xn-location\">Milan, Tennessee<\/span> (collectively, &#8220;PRI&#8221;). From its hot-mix asphalt plant in <span class=\"xn-location\">Knoxville<\/span>, PRI provides construction and paving services for a variety of public and private projects in northeastern <span class=\"xn-location\">Tennessee<\/span>. PRI is also a leading asphalt repair contractor providing pavement preservation and specialized sitework services.<\/p>\n<p>\n        <span class=\"xn-person\">Fred J. (Jule) Smith, III<\/span>, the Company&#8217;s President and Chief Executive Officer, said, &#8220;We are pleased to welcome PRI and its nearly 300 employees to the CPI family of companies as our platform company in Tennessee.\u00a0 With today&#8217;s transaction, we now stretch the length of the state, from <span class=\"xn-location\">Knoxville<\/span> in the east to the greater <span class=\"xn-location\">Memphis<\/span> metro area in the west. The combined PRI organization, led by <span class=\"xn-person\">Jon Hargett<\/span> as President and <span class=\"xn-person\">Greg Ailshie<\/span> as Senior Vice President, will benefit from the technical expertise and visionary leadership of two industry veterans with decades of experience operating in Tennessee.\u00a0 The <span class=\"xn-location\">State of Tennessee<\/span> is ripe with organic and acquisitive growth opportunities, driven by strong economic growth, favorable demographic trends, and a healthy transportation funding program. We intend to transition the management of our pre-existing <span class=\"xn-location\">Tennessee<\/span> operations, which include three hot-mix asphalt plants in the <span class=\"xn-location\">Nashville<\/span> metro area, to PRI, and we look forward to continued success in that dynamic market. In addition, as our states, municipalities and private customers seek innovative solutions for protecting and extending the life of their pavements, PRI&#8217;s specialized crews and equipment complement our current operations well and further enhance our ability to meet this growing demand as a leader in the pavement preservation industry.&#8221;<\/p>\n<p>\n        <b>About Construction Partners, Inc.<\/b>\n      <\/p>\n<p>Construction Partners, Inc. is a vertically integrated civil infrastructure company operating in local markets throughout the Sunbelt in <span class=\"xn-location\">Alabama<\/span>, <span class=\"xn-location\">Florida<\/span>, <span class=\"xn-location\">Georgia<\/span>, <span class=\"xn-location\">North Carolina<\/span>, <span class=\"xn-location\">Oklahoma<\/span>, <span class=\"xn-location\">South Carolina<\/span>, <span class=\"xn-location\">Tennessee<\/span> and <span class=\"xn-location\">Texas<\/span>. Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals, CPI focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The company also performs private sector projects that include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit <a href=\"http:\/\/www.constructionpartners.net\" rel=\"nofollow\">www.constructionpartners.net<\/a>.<\/p>\n<p>\n        <b>Cautionary Note Regarding Forward-Looking Statements<\/b>\n      <\/p>\n<p>Certain statements contained herein that are not statements of historical or current fact constitute &#8220;forward-looking statements&#8221; 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 &#8220;seek&#8221; &#8220;continue,&#8221; &#8220;estimate,&#8221; &#8220;predict,&#8221; &#8220;potential,&#8221; &#8220;targeting,&#8221; &#8220;could,&#8221; &#8220;might,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;expect,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;intend,&#8221; &#8220;project,&#8221; &#8220;outlook,&#8221; &#8220;believe,&#8221; &#8220;plan&#8221; 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&#8217;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&#8217;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.<\/p>\n<p>\n        <b>Contact:<\/b>\n      <\/p>\n<p>\n        <span class=\"xn-person\">Rick Black<\/span> \/ <span class=\"xn-person\">Ken Dennard<\/span><br \/><span class=\"xn-person\">Dennard Lascar<\/span> Investor Relations<br \/><a href=\"mailto:ROAD@DennardLascar.com\" rel=\"nofollow\">ROAD@DennardLascar.com<\/a><br \/>(713) 529-6600<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA78310&amp;sd=2025-05-01\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/construction-partners-inc-acquires-platform-company-in-tennessee-302444571.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/construction-partners-inc-acquires-platform-company-in-tennessee-302444571.html<\/a><\/p>\n<p>SOURCE  Construction Partners, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA78310&amp;Transmission_Id=202505011615PR_NEWS_USPR_____DA78310&amp;DateId=20250501\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Company Expands Infrastructure Business in Tennessee with Experienced Management Team Adds Hot-Mix Asphalt Plant and Specialized Pavement Preservation Business DOTHAN, Ala. , May 1, 2025 \/PRNewswire\/ &#8212; Construction Partners, Inc. (NASDAQ: ROAD) (&#8220;CPI&#8221; or the &#8220;Company&#8221;), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets across the Sunbelt, today announced that it has acquired PRI of East Tennessee, Inc., an asphalt manufacturing and construction business headquartered in Knoxville, Tennessee, and Pavement Restorations, Inc., a pavement preservation business headquartered in Milan, Tennessee (collectively, &#8220;PRI&#8221;). From its hot-mix asphalt plant in Knoxville, PRI provides construction and paving services for a variety of public and private projects in northeastern Tennessee. PRI is also &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-acquires-platform-company-in-tennessee\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Construction Partners, Inc. Acquires Platform Company in Tennessee&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-845661","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Construction Partners, Inc. Acquires Platform Company in Tennessee - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/construction-partners-inc-acquires-platform-company-in-tennessee\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction Partners, Inc. Acquires Platform Company in Tennessee - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Company Expands Infrastructure Business in Tennessee with Experienced Management Team Adds Hot-Mix Asphalt Plant and Specialized Pavement Preservation Business DOTHAN, Ala. , May 1, 2025 \/PRNewswire\/ &#8212; Construction Partners, Inc. (NASDAQ: ROAD) (&#8220;CPI&#8221; or the &#8220;Company&#8221;), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets across the Sunbelt, today announced that it has acquired PRI of East Tennessee, Inc., an asphalt manufacturing and construction business headquartered in Knoxville, Tennessee, and Pavement Restorations, Inc., a pavement preservation business headquartered in Milan, Tennessee (collectively, &#8220;PRI&#8221;). From its hot-mix asphalt plant in Knoxville, PRI provides construction and paving services for a variety of public and private projects in northeastern Tennessee. PRI is also &hellip; Continue reading &quot;Construction Partners, Inc. 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(NASDAQ: ROAD) (&#8220;CPI&#8221; or the &#8220;Company&#8221;), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways in local markets across the Sunbelt, today announced that it has acquired PRI of East Tennessee, Inc., an asphalt manufacturing and construction business headquartered in Knoxville, Tennessee, and Pavement Restorations, Inc., a pavement preservation business headquartered in Milan, Tennessee (collectively, &#8220;PRI&#8221;). From its hot-mix asphalt plant in Knoxville, PRI provides construction and paving services for a variety of public and private projects in northeastern Tennessee. PRI is also &hellip; Continue reading \"Construction Partners, Inc. 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