Construction Partners, which provides infrastructure and road construction in the southeastern United States, announced terms for its IPO on Monday.
The Dothan, AL-based company plans to raise $180 million by offering 11.3 million shares (40% insider) at a price range of $15 to $17. At the midpoint of the proposed range, Construction Partners would command a fully diluted market value of $786 million.
Construction Partners was founded in 2001 and booked $597 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol ROAD. Baird, Raymond James and Stephens Inc. are the joint bookrunners on the deal. It is expected to price during the week of April 30, 2018.
