M&A Deal Summary

CPI Acquires Reeves Construction - Three hot-mix asphalts plants

On November 1, 2023, CPI acquired construction company Reeves Construction - Three hot-mix asphalts plants from Reeves Construction

Acquisition Highlights
  • This is CPI’s 11th transaction in the Construction sector.
  • This is CPI’s 12th transaction in the United States.
  • This is CPI’s 7th transaction in North Carolina.

M&A Deal Summary
Date 2023-11-01
Target Reeves Construction - Three hot-mix asphalts plants
Sector Construction
Buyer(s) CPI
Sellers(s) Reeves Construction
Deal Type Divestiture

Target

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.

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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 12 of 15
Sector (Construction) 11 of 14
Type (Divestiture) 2 of 2
State (North Carolina) 7 of 8
Country (United States) 12 of 15
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-02 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.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-03 SJ&L General Contractor

Fayetteville, Tennessee, United States

SJ&L General Contractor is a hot-mix asphalt and site work company that offers surface treatment services. SJ&L General Contractor is based in Fayetteville, Tennessee.

Buy -

Seller(S) 1

SELLER

Reeves Construction

Duncan, South Carolina, United States
Category Company
Sector Construction
DESCRIPTION

Reeves Construction is providing construction products and services by maintaining the level of safety, integrity and innovation, while remaining environmentally responsible and fostering growth in our employees and communities. Reeves Construction is based in Duncan, South Carolina.

DEAL STATS #
Overall 1 of 1
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
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