CPI expands proprietary technology platform with acquisition of Trism business

Construction Partners, Inc. (NASDAQ: ROAD) has expanded its infrastructure operations in Tennessee through the acquisition of PRI of East Tennessee, Inc. and Pavement Restorations, Inc., collectively referred to as PRI. This strategic move adds a hot-mix asphalt plant in Knoxville and a specialized pavement preservation business in Milan, enhancing CPI's infrastructure capabilities. The acquisition includes nearly 300 employees and positions CPI to serve a broader range of public and private projects across northeastern Tennessee.

Fred J. (Jule) Smith, III, CEO of Construction Partners, Inc., highlighted the significance of the acquisition, noting that the combined organization will be led by Jon Hargett and Greg Ailshie, both experienced industry professionals with deep ties to Tennessee. The acquisition is expected to strengthen CPI's market presence and align with the state's favorable economic and transportation funding environment. The company also plans to integrate its existing Tennessee operations, including three hot-mix asphalt plants in the Nashville area, under the PRI leadership structure.

This acquisition underscores CPI's strategy to expand its vertically integrated infrastructure platform, leveraging its existing assets such as hot-mix asphalt plants, aggregate facilities, and liquid asphalt terminals. The company's operations span multiple Sunbelt states, including Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. The addition of PRI's specialized crews and equipment is expected to enhance CPI's ability to meet growing demand for pavement preservation solutions.

The transaction reflects CPI's ongoing efforts to consolidate market positions and capitalize on organic and acquisitive growth opportunities. With this acquisition, CPI now operates across the length of Tennessee, from Knoxville in the east to the greater Memphis metro area in the west. The company's focus remains on delivering infrastructure solutions for both public and private sector clients, including roadways, airport runways, bridges, and commercial developments.