Company: Construction Partners, Inc.
Symbol: ROAD
Description: They are one of the fastest growing civil infrastructure companies in the United States specializing in the building and maintenance of transportation networks.
Trade Date: 5/4
Shares: 11.3 million
Price Range: $15.00-$17.00
Underwriter(s): Baird, Raymond James, Stephens Inc
Co-Manager(s): Imperial Capital, D.A. Davidson & Co.
Terms Added: 4-23-18
Business: Their operations leverage a highly skilled workforce, strategically located hot mix asphalt (“HMA”) plants, substantial construction assets and select material deposits. They 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 United States. Led by industry veterans each with over 30 years of experience operating, acquiring and improving construction companies, they are well-positioned to continue to expand profitably in an industry with attractive growth prospects.
Financials: Their revenues were $542.3 million and $568.2 million and their net income was $22.0 million and $26.0 million in 2016 and 2017, respectively. In the first quarter of fiscal 2018, their revenues increased 23.2% to $150.4 million, while their net income increased 141.1% to $11.0 million, compared to the sameperiod in the previous fiscal year.
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