NEW YORK, May 04, 2018 (GLOBE NEWSWIRE) -- Construction Partners, Inc. (Nasdaq:ROAD), specializing in the construction and maintenance of roadways across five southeastern states, rang the closing bell at the Nasdaq MarketSite in Times Square today in celebration of its initial public offering (IPO) on The Nasdaq Stock Market.
Founded in 2001, Construction Partners provides construction products and services to both the public and private sectors with customers in North Carolina, South Carolina, Georgia, Florida and Alabama. Publicly funded projects make up most of its business, including local and state roadways, interstate highways, airport runways and bridges. In the private sector market, it offers paving and sitework for residential subdivisions, office and industrial parks, shopping centers and local businesses. From its 27 hot mix asphalt (HMA) plants, it produces the material used to surface the highways, roads, runways and commercial sites it constructs. It also sells HMA as well as aggregates in some markets to local customers.
“America’s economy runs on roads, and for more than 17 years Construction Partners has been paving the way for economic growth in the fastest-growing region of the country,” said Charles E. Owens, President & Chief Executive Officer, Construction Partners. “Our access to new capital through our Nasdaq listing – combined with strong demand and public funding currently earmarked for new road construction and improvements -- will enable us to continue to grow organically, through additional acquisitions and greenfield developments. My thanks to our more than 1,800 employees who have helped build this company into one of the fastest growing and most successful transportation infrastructure companies in the country.”
“Over nearly 20 years of hard work, Construction Partners has expanded its geographic footprint to cover more than 28,500 miles of highway infrastructure and acquire 15 complementary businesses throughout the Southeastern United States,” said Nelson Griggs, President, Nasdaq Stock Exchange. “We are proud to welcome Construction Partners to the Nasdaq Stock Market and look forward to supporting the company as it continues to bolster our country’s infrastructure through its quality services.”
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