Construction Partners, Inc. Completes North Carolina Acquisition

Transaction Adds Two Hot-Mix Asphalt Plants on East Coast

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Dec 18, 2020, 16:15 ET

DOTHAN, Ala., Dec. 18, 2020 /PRNewswire/ -- Construction Partners, Inc. (NASDAQ: ROAD) (the "Company" or "Construction Partners"), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, today announced that it has acquired R.P.C. Contracting, Inc., an asphalt and paving contractor based in Kitty Hawk, North Carolina. The transaction adds two hot-mix asphalt plants to the Company's North Carolina footprint.

"Today's transaction adds two dynamic markets in northeastern North Carolina, including the Outer Banks, and extends the geographic territory we added in our recent acquisition of Rose Brothers Paving Company," said Fred J. (Jule) Smith, III, Chief Operating Officer of Construction Partners.

Smith continued, "We believe that operators in our industry are drawn to Construction Partners as a dynamic and growing organization, with opportunities for continued growth and success following the completion of a sale transaction. Of the four businesses we have acquired in North Carolina this quarter, three of the owners have chosen to remain with our Company and will contribute to our future success. We welcome Robbie Parker and his team to Construction Partners."

About Construction Partners, Inc.

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 48 hot-mix asphalt plants, nine aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company's public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments. To learn more, visit www.constructionpartners.net.

Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein that are not statements of historical or current fact constitute "forward-looking statements" 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 "seek" "continue," "estimate," "predict," "potential," "targeting," "could," "might," "may," "will," "expect," "should," "anticipate," "intend," "project," "outlook," "believe," "plan" 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'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'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.

Contact:

Rick Black
Dennard Lascar Investor Relations
[email protected]
(713) 529-6600

SOURCE Construction Partners, Inc.