#United States #Oklahoma #Construction Partners #Overland Corporation #Asphalt Production

Construction Partners, Inc. Expands Operations in Oklahoma

Construction Partners, Inc. (NASDAQ: ROAD), a leading civil infrastructure company in the United States, recently announced its acquisition of Overland Corporation, an Oklahoma-based asphalt manufacturing and paving firm. This strategic move marks CPI's entry into its eighth state and reinforces its commitment to enhancing roadway construction and maintenance services across the Sunbelt region.

Major Acquisition Details

On January 3, 2025, CPI disclosed its transaction involving Overland Corporation, known for its expertise in producing high-quality hot-mix asphalt. Overland operates eight hot-mix asphalt plants strategically located throughout southern and western Oklahoma and northern Texas. These plants primarily support various roadway projects, including public highways, commercial buildings, and residential developments.

Fred J. Smith III, the President and CEO of CPI, expressed enthusiasm about the acquisition, highlighting Overland's solid presence in Oklahoma and the region's potential for growth. He emphasized, "We are pleased to welcome Overland Corporation to the CPI family of companies. Under the leadership of founder Reggie Sullivan, Overland has become a prominent player in infrastructure contracting in this area, benefitting from the ongoing expansion of the Dallas metro area."

With this acquisition, CPI aims to leverage the operational synergies between the two companies and support Overland's existing and future growth strategies. Darren Ratajski, Overland's president, is expected to continue leading the team, facilitating a smooth transition and ensuring that ongoing projects and customer relationships are maintained.

Strategic Growth Objectives

CPI's acquisition strategy is focused on solidifying its market position while aiming to lower its leverage ratio to approximately 2.5 over the next four to six quarters. This objective aligns with their strategic goals for sustained and profitable growth. The integration of Overland Corporation is seen as a perfect match not only in operational capabilities but also in corporate culture.

Opportunities in the Infrastructure Sector

This acquisition occurs at a time when infrastructure investments across the United States are experiencing a significant uptick. With public funding playing a crucial role in the majority of CPI's projects, including local roads, state highways, and airport renovations, this expansion into Oklahoma will enable CPI to tap into an increasing demand for infrastructure improvements as economic activities surge in the surrounding regions.

About Construction Partners, Inc.

Established as a vertically integrated civil infrastructure company, CPI has established itself in various markets across Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The company's operations are supported by its extensive network of hot-mix asphalt plants and aggregate facilities, focusing mainly on public sector projects as they play a crucial role in the nation's infrastructure landscape.

To stay updated on CPI’s latest developments and projects, visit their official website at www.constructionpartners.net.

Conclusion

With the acquisition of Overland Corporation, Construction Partners, Inc. is well-positioned to enhance its service offerings in Oklahoma and northern Texas. By joining forces, both companies can tap into new market opportunities, provide superior services, and contribute to the crucial task of building and maintaining the nation’s infrastructure, ensuring they are ready to meet future challenges and demands.