Construction Partners Completes $109.1 Million Follow-On Offering

Technology & Services
Industrial

Construction Partners follow-on offering


Summary

Construction Partners, Inc. ("Construction Partners" or the “Company”) (NASDAQ: ROAD) recently completed a secondary offering of 6,612,500 shares of Class A common stock at a price of $16.50 per share, which included the exercise in full by the underwriters of their option to purchase an additional 862,500 shares of Class A common stock, generating gross proceeds of $109.1 million. All shares sold in the offering were offered by certain affiliates of SunTx Capital Management Corp. (“SunTx”).

Baird served as lead book-running manager on this offering.

About

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 35 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. Construction Partners Inc. 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.
CONTACT US TO LEARN MORE
Technology & Services
Industrial

Construction Partners follow-on offering

Date
June 2020
Company
Construction Partners, Inc.
Transaction
Equity Capital Markets
Sectors
Technology & Services
Industrial
Verticals
Facility, Industrial, Residential & Environmental Services
Target Geography
North America

Share