Construction Partners, Inc. (NASDAQ: ROAD) has acquired Piedmont Paving, Inc., a site development and asphalt paving contractor based in Newnan, Georgia. The company announced the deal on Nov. 4.
Piedmont’s operations are now part of CPI’s Georgia platform company, The Scruggs Company. The deal adds a hot-mix asphalt plant in Newnan and more than 110 employees.
Growth on the Interstate
President and CEO Fred J. (Jule) Smith, III said the deal expands Scruggs’ operations along the Interstate 85 corridor between Columbus and Atlanta. He described the region as rapidly growing, with strong public and private infrastructure demand.
Smith called the Newnan plant “strategically located.” He said the plant, the experienced workforce and Piedmont’s established customer relationships complement Scruggs’ existing operations and enhance its ability to serve west-central Georgia.
He added that CPI looks forward to building on Piedmont’s reputation for quality work and reliable service.
A Plant-Shaped Puzzle Piece
The plant matches CPI’s model. The company describes itself as vertically integrated, supported by its own hot-mix plants, aggregate facilities and liquid asphalt terminals.
Piedmont serves both public and private projects around metro Atlanta. CPI works both sides of that line too, though public work makes up the majority of its business. Across its footprint, CPI’s projects include:
Public: local and state roadways, interstate highways, airport runways and bridges
Private: paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments
Room at the Table
Smith welcomed Piedmont into the “CPI family of companies.” That family operates in eight Sunbelt states: Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas.
The release didn’t include a purchase price. For now, the numbers on the record are one hot-mix plant and more than 110 new teammates.
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