Deal Details

Follow-on Offering

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Summary

About

Construction Partners, Inc. (the “Company”) (NASDAQ: ROAD) recently completed a secondary offering of 5,000,000 shares of Class A common stock at a price of $14.25 per share, generating gross proceeds of $71.3 million. All of the shares sold in the offering were offered by certain affiliates of SunTx Capital Management Corp. (“SunTx” or the “selling stockholders”). In addition, the underwriters have been granted a 30-day option to purchase up to an additional 750,000 shares of Class A common stock from the selling stockholders.

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 32 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. 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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