Construction Partners Completes $63 Million Follow-On Offering

Technology & Services

Construction Partners follow-on offering


Summary

Construction Partners, Inc. (the “Company”) (NASDAQ: ROAD) recently completed a secondary offering of 2,000,000 shares of Class A common stock at a price of $31.25 per share, generating gross proceeds of $62.5 million. All shares sold in the offering were offered by certain affiliates of SunTx Capital Management Corp. (“SunTx”).

Baird served as the sole book-running manager on this offering.

About

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. 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.
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Technology & Services

Construction Partners follow-on offering

Date
April 2021
Company
Construction Partners, Inc.
Transaction
Equity Capital Markets
Sectors
Technology & Services
Verticals
Building & Construction Products
Facility, Industrial, Rental & Environmental ("FIRE") Services
Target Location
North America

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