Construction Partners Expands Market Reach with Acquisition of Overland Corporation
$ROAD
Construction Partners, Inc. (NASDAQ: ROAD), a vertically integrated civil infrastructure company that specializes in the construction and maintenance of roadways, has recently made a strategic move to enhance its operations and market position by acquiring Overland Corporation. Based in Ardmore, Oklahoma, Overland operates eight hot-mix asphalt plants, providing paving services throughout southern and western Oklahoma as well as northern Texas. This acquisition allows Construction Partners to expand its asphalt manufacturing and paving capabilities, strengthening its footprint in key regions and enhancing its capacity to serve a growing market demand for public, commercial, and residential infrastructure projects.
This acquisition comes on the heels of fiscal performance for Construction Partners in the fourth quarter and full fiscal year of 2024. The company reported a 17% increase in revenue compared to the previous year, highlighting its successful expansion efforts and operational efficiency. Net income for the year grew by 41%, while adjusted EBITDA rose 28%, underscoring a solid performance across its operations. The company’s record backlog of $1.96 billion further strengthens its future prospects, providing a solid foundation for continued growth in the coming years.
The acquisition of Overland aligns with Construction Partners’ strategy to expand its reach and improve its vertically integrated model. The addition of Overland’s plants and services enhances the company’s ability to meet the increasing demand for infrastructure development and road maintenance in the Sunbelt region. With this expansion, Construction Partners is well-positioned to take advantage of the growing need for reliable and high-quality infrastructure services, particularly in Oklahoma and Texas, which are expected to experience sustained economic growth and infrastructure investment.
Looking ahead, the company’s strong financial performance and strategic acquisitions suggest that Construction Partners is on a path of continued growth and success. With its expanded capabilities and solid backlog, the company is well-positioned to navigate the dynamic civil infrastructure market, capitalize on new opportunities, and further solidify its standing as a leading player in the industry. As it moves forward, Construction Partners will likely continue to focus on maintaining operational efficiency, enhancing its service offerings, and executing on strategic initiatives aimed at driving long-term growth.
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