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Industrials | Mergers & Acquisitions

P&S Paving Inc. Has Been Acquired by Construction Partners, Inc.

  • TM Capital served as exclusive financial advisor to P&S Paving, Inc. (“P&S” or the “Company”) in its sale to Construction Partners, Inc. (NASDAQ: ROAD) (“CPI”)
  • Founded in 1993 and headquartered in Daytona Beach, Florida, P&S is a roadway and infrastructure services platform providing asphalt paving and production, milling and resurfacing, site preparation, excavation and grading, underground utilities and concrete crushing throughout northeast and central Florida, with the majority of revenue sourced from publicly-funded projects
  • CPI is a vertically integrated civil infrastructure company operating in local markets throughout the Sunbelt in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas with a market cap of over $6.5 billion
  • Supported by its hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals, CPI focuses on the construction, repair and maintenance of surface infrastructure. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges
  • The P&S operations will become part of CPI’s subsidiary, C.W. Roberts Contracting, Incorporated, which operates throughout the State of Florida

HAS BEEN ACQUIRED BY

P&S Paving Inc. Has Been Acquired by Construction Partners, Inc.

TM Capital served as exclusive financial advisor to P&S Paving, Inc. (“P&S” or the “Company”) in its sale to Construction Partners, Inc. (NASDAQ: ROAD) (“CPI”)

Details

For more information, contact our industrials team at:

industrials@tmcapital.com

Client Testimonial

“The sale of P&S Paving marked a defining moment in our Company's history, and TM Capital was instrumental in making it a success. Their integrity, leadership and strategic guidance were evident from the onset of the engagement. TM Capital approached every stage of the process with professionalism, transparency and a deep understanding of both our business and our goals. Their disciplined execution, clear communication and commitment to achieving the best outcome for all stakeholders set them apart. The team's ability to navigate complex negotiations while maintaining respect and balance among all parties exemplified the highest standards of advisory excellence. Thanks to TM Capital's expertise and steadfast dedication, P&S Paving achieved an exceptional transaction result that reflects the strength of our Company's legacy and positions us for continued success in the industry."
– Tim Phillips, Co-Founder of P&S Paving