Construction Partners completed its acquisition of Roads, Inc. of NWF on Sept. 21, adding an asphalt plant north of Pensacola, crews, equipment and more than 150 employees to its C.W. Roberts platform. The purchase price was not disclosed.
Based in Cantonment, Roads, Inc. of NWF also provides asphalt paving, roadway construction and disaster-response debris removal across Florida, Alabama and the Southeast. Management expects its plant, workforce and customer relationships to complement Construction Partners' existing Florida Panhandle operations.
The announcement did not disclose the acquired business's revenue or earnings, integration costs or synergy targets, leaving the acquisition's financial returns unquantified. In the fiscal third quarter ended June 30, before the deal, Construction Partners reported revenue of $999.4 million, up 28.2% year over year, and operating income of $109.4 million versus $82.9 million; gross margin was 16.8%, compared with 16.9% a year earlier.
