DOTHAN, Ala., May 1, 2025 — Construction Partners, Inc. (NASDAQ: ROAD) ("CPI" or the "Company"), a leading civil infrastructure firm specializing in roadway construction and maintenance across the Sunbelt, has announced the acquisition of PRI of East Tennessee, Inc., an asphalt manufacturing and construction company based in Knoxville, Tennessee, along with Pavement Restorations, Inc., a pavement preservation business headquartered in Milan, Tennessee. Together, the two businesses operate under the “PRI” name and significantly expand CPI’s footprint across the state.

From its Knoxville hot-mix asphalt plant, PRI delivers a wide range of construction and paving services for public and private projects in northeastern Tennessee. PRI is also a major asphalt repair and pavement preservation contractor, providing specialized sitework services that enhance and extend the life of road surfaces — a rapidly growing need as infrastructure ages across the region.

Fred J. (Jule) Smith, III, CPI’s President and Chief Executive Officer, expressed enthusiasm for the acquisition and its strategic importance.

"We are pleased to welcome PRI and its nearly 300 employees to the CPI family of companies as our platform company in Tennessee. With today's transaction, we now stretch the length of the state, from Knoxville in the east to the greater Memphis metro area in the west. The combined PRI organization, led by Jon Hargett as President and Greg Ailshie as Senior Vice President, will benefit from the technical expertise and visionary leadership of two industry veterans with decades of experience operating in Tennessee,” said Smith.

He added, “The State of Tennessee is ripe with organic and acquisitive growth opportunities, driven by strong economic growth, favorable demographic trends, and a healthy transportation funding program. We intend to transition the management of our pre-existing Tennessee operations, which include three hot-mix asphalt plants in the Nashville metro area, to PRI, and we look forward to continued success in that dynamic market. In addition, as our states, municipalities and private customers seek innovative solutions for protecting and extending the life of their pavements, PRI's specialized crews and equipment complement our current operations well and further enhance our ability to meet this growing demand as a leader in the pavement preservation industry."

The acquisition strengthens CPI’s long-term growth strategy, leveraging PRI’s existing market share and experience in Tennessee’s key infrastructure projects. Tennessee’s transportation sector has seen rising investments thanks to a robust state funding program and rapid urban and suburban development, creating strong demand for road construction, maintenance, and repair services.

About Construction Partners, Inc.

Construction Partners, Inc. is a vertically integrated civil infrastructure company operating in local markets across Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee, and Texas. Backed by its network of hot-mix asphalt plants, aggregate facilities, and liquid asphalt terminals, CPI focuses on the construction, repair, and maintenance of surface infrastructure. Publicly funded projects — including local and state roads, interstate highways, airport runways, and bridges — make up the majority of its business. The company also handles private-sector work, including paving and sitework for office parks, industrial centers, commercial developments, and residential communities. To learn more, visit www.constructionpartners.net.

Originally reported by PR News Wire in Yahoo Finance.