M&A Deal Summary

CPI Acquires Southern Asphalt

On March 7, 2022, CPI acquired construction company Southern Asphalt

Acquisition Highlights
  • This is CPI’s 6th transaction in the Construction sector.
  • This is CPI’s 7th transaction in the United States.
  • This is CPI’s 5th transaction in North Carolina.

M&A Deal Summary
Date 2022-03-07
Target Southern Asphalt
Sector Construction
Buyer(s) CPI
Deal Type Add-on Acquisition

Target

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.

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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 7 of 15
Sector (Construction) 6 of 14
Type (Add-on Acquisition) 7 of 13
State (North Carolina) 5 of 8
Country (United States) 7 of 15
Year (2022) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-10 C. K. Earnhardt & Son

Albemarle, North Carolina, United States

C. K. Earnhardt & Son provides construction and maintenance of roadways, based in Albemarle, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-18 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.

Buy -
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