M&A Deal Summary

CPI Acquires GAC Contractors - Operational Assets

On March 18, 2022, CPI acquired construction company GAC Contractors - Operational Assets from GAC Contractors

Acquisition Highlights
  • This is CPI’s 7th transaction in the Construction sector.
  • This is CPI’s 8th transaction in the United States.
  • This is CPI’s 1st transaction in Florida.

M&A Deal Summary
Date 2022-03-18
Target GAC Contractors - Operational Assets
Sector Construction
Buyer(s) CPI
Sellers(s) GAC Contractors
Deal Type Divestiture

Target

GAC Contractors - Operational Assets

Panama City, Florida, United States
GAC Contractors Operational Assets includes asphalt, grading, and site work including its hot-mix asphalt plant in Panama City, Florida.

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Buyer(S) 1

Buyer

CPI

Dothan, Alabama, United States
Category Company
Founded 1999
Sector Construction
Employees1,146
Revenue 1.6B USD (2023)
DESCRIPTION

CPI is a vertically integrated civil infrastructure company operating across five southeastern states, with 35 hot-mix asphalt plants, nine aggregate facilities, and one liquid asphalt terminal. CPI was founded in 1999 and is based in Dothan, Alabama.

DEAL STATS #
Overall 8 of 16
Sector (Construction) 7 of 15
Type (Divestiture) 1 of 2
State (Florida) 1 of 1
Country (United States) 8 of 16
Year (2022) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-07 Southern Asphalt

Burgaw, North Carolina, United States

Southern Asphalt is a paving contractor that primarily serves the Wilmington, North Carolina metro area. Southern Asphalt is based in Burgaw, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-02 Ferebee

Charlotte, North Carolina, United States

Ferebee is a full-service hot-mix asphalt and paving company that provides asphalt contracting services for a variety of public, commercial, and residential projects. Ferebee was formed in 1985 and is based in Charlotte, North Carolina.

Buy -

Seller(S) 1

SELLER

GAC Contractors

Panama City, Florida, United States
Category Company
Founded 1958
Sector Construction
DESCRIPTION

GAC Contractors is a provider of Road, Sitework & Building Construction and has assisted clients from the project conceptual design stage through project completion. GAC Contractors was founded in 1958 and is based in Panama City, Florida.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
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