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Construction Partners Priced, Nasdaq: ROAD

Vertically-integrated provider of road construction and paving in the Southeast.

Industry: Industrials

First Day Return: +0.8%

Industry: Industrials

We are one of the fastest growing civil infrastructure companies in the United States specializing in the building and maintenance of transportation networks. Our operations leverage a highly skilled workforce, strategically located hot mix asphalt ("HMA") plants, substantial construction assets and select material deposits. We provide construction products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential sites in the Southeastern US. Led by industry veterans each with over 30 years of experience operating, acquiring and improving construction companies, we are well-positioned to continue to expand profitably in an industry with attractive growth prospects. Since our inception in 2001, we have scaled into one of the largest operators in the region, growing from three to 27 HMA plants at March 31, 2018. We operate in a geographic area covering nearly 29,000 miles of highway infrastructure, and we produced 3.2 million tons of HMA in fiscal 2017 for use in more than 900 transportation or infrastructure projects. We are able to reliably forecast our bidding opportunities and properly plan for future projects by analyzing the budgets and bidding patterns of state and local departments of transportation ("DOTs"). Our contract backlog at December 31, 2017 was at a record level of $551 million, up from $370 million at December 31, 2016.
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Construction Partners (ROAD) Performance