Construction Partners Expands into Oklahoma with Ellsworth Acquisition
ROAD is trading near its 52-week low of $93.22 (2.1% above the low).
Summary
Construction Partners acquired Ellsworth Construction, an Oklahoma-based asphalt and paving company, expanding into the Tulsa and Oklahoma City markets. The deal adds hot-mix asphalt plants and a growing data center construction niche, complementing the existing Overland platform. This follows a series of strategic moves, including a $200M credit facility increase in June, signaling continued acquisition-driven growth. The acquisition strengthens CPI's Sunbelt footprint and diversifies its project base. Integration risks are mitigated by retaining local leadership.
At the time of this announcement, ROAD was trading at $95.21 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $5.3B. The 52-week trading range was $93.22 to $151.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.