Construction Partners Acquires Lone Star Paving for $654M, Boosting Annual Revenue by $530M
October 22, 2024Lone Star Paving operates as a vertically integrated company, managing 10 hot-mix asphalt plants, four aggregate facilities, and one liquid asphalt terminal.
Construction Partners has entered into a definitive agreement to acquire Asphalt Inc., known as Lone Star Paving, which is based in Austin, Texas.
The acquisition deal is valued at $654 million, comprising cash and 3 million shares of Construction Partners' Class A common stock.
This acquisition is projected to generate an annualized run-rate of $530 million in revenue and $120 million in adjusted EBITDA for fiscal 2025.
Construction Partners expects the acquisition to be immediately accretive to earnings upon completion.
Summary based on 1 source
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Source
RTTNews • Oct 21, 2024
Construction Partners To Acquire Lone Star Paving - Quick Facts