M&A Deal Summary

CPI Acquires Hubbard Paving

On October 2, 2023, CPI acquired construction company Hubbard Paving

Acquisition Highlights
  • This is CPI’s 10th transaction in the Construction sector.
  • This is CPI’s 11th transaction in the United States.
  • This is CPI’s 2nd transaction in South Carolina.

M&A Deal Summary
Date 2023-10-02
Target Hubbard Paving
Sector Construction
Buyer(s) CPI
Deal Type Add-on Acquisition

Target

Hubbard Paving

Walhalla, South Carolina, United States
Hubbard Paving is a contractor focused on serving the asphalt needs of Oconee County homeowners and businesses. Hubbard Paving is based in Walhalla, South Carolina.

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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 11 of 16
Sector (Construction) 10 of 15
Type (Add-on Acquisition) 10 of 14
State (South Carolina) 2 of 2
Country (United States) 11 of 16
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-03 Pickens Construction

Anderson, South Carolina, United States

Pickens Construction is a family owned road construction company provide commercial and residential services in both South Carolina and Georgia, being certified by both of the Contractors' State License Boards. From driveways and walkways, to parking lots and roads. Pickens Construction was founded in 1946 and is based in Anderson, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-01 Reeves Construction - Three hot-mix asphalts plants

Concord, North Carolina, United States

Reeves Construction's Three hot-mix asphalts plants specializing in the construction and maintenance of roadways. Reeves Construction's Three hot-mix asphalts plants are based in Concord, North Carolina.

Buy -
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