Construction Partners, a vertically-integrated provider of road construction and paving in the Southeast, raised $135 million by offering 11.3 million shares at $12, well below the range of $15 to $17. PE sponsor SunTx sold 20% of the deal, down from the 40% it originally intended to sell. At pricing, the company will command a fully-diluted market value of $617 million. Construction Partners plans to list on the Nasdaq under the symbol ROAD. Baird, Raymond James and Stephens Inc. acted as lead managers on the deal.
