For $654 million in cash and 3 million Class A common stock, Construction Partners (ROAD, Financials) said it signed a formal deal to purchase Lone Star Paving, a vertically integrated asphalt production and paving firm situated in Austin, Texas. CPI Assuming regulatory clearances and other normal conditions, the transaction is scheduled to conclude in the first quarter of fiscal 2025.
On an annualized run-rate basis in fiscal 2025, the transaction is expected to generate $530 million in revenue and $120 million in adjusted EBITDA; it will be immediately accretive to profits.
Fred J. (Jule) Smith, III, CPI's President and Chief Executive Officer, said: “We are excited to announce this transformational acquisition to add an outstanding platform company as we enter our seventh state. Lone Star is a market leader across multiple high-growth metropolitan areas in central Texas, with a deeply experienced and effective management team and a culture of operational excellence. Through its vertical integration strategy, Lone Star reduces volatility, captures value to enhance margins and maintains its operational and scheduling flexibility.”
After closure, CPI will pay extra cash in four quarterly payments plus an additional $30 million upon receipt of certain government entitlements for a real estate firm. Debt proceeds will help to fund the cash component of the acquisition.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。