Initial Public Offering

Technology & Services
Initial Public Offering

Summary

Baird served as the lead bookrunner on this offering

About

Construction Partners, Inc. (“CPI” or “the “Company”) (NASDAQ-GS: ROAD), a portfolio Company of SunTx Capital Partners, LP (“SunTx”) recently completed an initial public offering of 11,250,000 shares of its Class A common stock at $12.00 per share, generating gross proceeds of approximately $135.0 million. CPI sold 9,000,000 shares and certain selling shareholders sold 2,250,000. The Company received net proceeds of approximately $100.0 million after deducting underwriting discounts and commissions. CPI intends to use the net proceeds to provide growth capital, to fund acquisitions and for general corporate purposes, which may include the repayment of debt from time to time. The Company and certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 1,687,500 shares of Class A common stock at the initial public offering price.

Construction Partners, Inc. is a civil infrastructure company operating across five southeastern states. The majority of CPI’s projects are publicly funded and include local and state roadways, interstate highways, airport runways and bridges. Private sector projects include paving and sitework for residential subdivisions, office and industrial parks, shopping centers and local businesses. The Company is headquartered in Dothan, Alabama.

SunTx is a private equity firm that invests in middle market manufacturing, distribution and service companies. SunTx specializes in supporting talented management teams in industries where SunTx can apply its operational experience and financial expertise to build leading middle-market companies with operations typically in the Sun Belt region of the United States. SunTx is headquartered in Dallas, Texas.
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Technology & Services
Initial Public Offering
Date
May 2018
Company
Construction Partners, Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America

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