Construction Partners acquires P&S Paving, expands into Florida’s east coast

DOTHAN, Ala. - Construction Partners, Inc. (NASDAQ:ROAD) announced today it has acquired Daytona Beach-based P&S Paving, Inc., expanding its operations along Florida’s east coast.

The acquisition adds two hot-mix asphalt plants and brings the company into the Interstate 95 corridor, an area experiencing significant growth. The acquired operations will operate under CPI’s Florida platform company, C.W. Roberts Contracting, Incorporated.

"This transaction expands our footprint into several markets and enhances our ability to deliver asphalt and infrastructure services throughout the east coast of Florida," said Fred J. Smith, III, President and CEO of Construction Partners, in a press release statement.

Curtis Long will lead the acquired operations going forward. The P&S Paving team provides paving, sitework and utility services throughout northeast and central Florida.

Construction Partners specializes in the construction and maintenance of roadways across the Sunbelt region, operating in Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas. The company focuses primarily on publicly funded infrastructure projects including local and state roadways, interstate highways, airport runways and bridges.

The financial terms of the acquisition were not disclosed in the announcement.

In other recent news, Construction Partners Inc. reported its third-quarter earnings for 2025, showing a significant revenue increase but falling short of analysts’ expectations for both earnings per share and revenue. The company posted an EPS of $0.81, missing the forecasted $0.94, and revenue reached $779.3 million, below the anticipated $811.76 million. Additionally, Construction Partners announced the acquisition of eight hot-mix asphalt plants in the Houston area from Vulcan Materials Company affiliates, expanding its production capacity and geographic reach. Analysts at Baird upgraded Construction Partners’ stock to Outperform, raising the price target to $122.00 from $112.00, citing stronger-than-expected performance from recent acquisitions in Texas and Tennessee. Meanwhile, DA Davidson increased its price target for the company to $110.00 from $100.00, maintaining a Neutral rating, despite a challenging quarter affected by weather conditions. These developments reflect the company’s strategic moves and analysts’ adjusted outlooks.

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