Cardinal Infrastructure Group Expands Carolinas Presence With Acquisition of Piedmont Pipe Construction

RALEIGH, N.C. — Cardinal Infrastructure Group has expanded its footprint in the Southeast through the acquisition of Piedmont Pipe Construction, a North Carolina-based contractor specializing in wet utility infrastructure.

The acquisition, announced June 2, brings Piedmont Pipe Construction into Cardinal’s growing portfolio of infrastructure and civil construction operations. Founded in 1999, Piedmont has built a reputation as a provider of wet utility services throughout North and South Carolina. The company is headquartered near Charlotte and will continue operating under the Cardinal Civil Contracting brand.

The move strengthens Cardinal’s capabilities in one of the fastest-growing metropolitan regions in the Southeast, where ongoing residential, commercial and infrastructure development continues to drive demand for utility construction services.

Cardinal Infrastructure Group, which trades on the Nasdaq under the ticker CDNL, said the acquisition aligns with its broader strategy of expanding operations in existing markets while increasing service integration across its business units.

Acquisition Strengthens Charlotte Market Position

Company leadership said the addition of Piedmont’s workforce and utility expertise will help Cardinal increase its capacity to support infrastructure growth in the Charlotte metropolitan area.

"We are pleased to welcome Piedmont to the Cardinal family," said Jeremy Spivey, chairman and chief executive officer of Cardinal Infrastructure Group. "This acquisition is a clear example of our tuck-in strategy building density in our existing high-growth regions and deepening vertical integration. The addition of Piedmont's wet utility-focused crews strengthens our robust, owned labor force and positions us to better serve growth across the Charlotte metro area at greater scale. We welcome the entire Piedmont team to Cardinal and look forward to what we will build together."

Wet utility contractors play a critical role in infrastructure development, providing installation and maintenance services for water, sewer and stormwater systems that support residential communities, commercial projects and public works developments.

Charlotte and surrounding areas have experienced sustained population and economic growth in recent years, creating increased demand for utility infrastructure upgrades and new construction projects. The acquisition positions Cardinal to capitalize on those opportunities while expanding its self-performing labor capabilities.

Cardinal Continues Growth Through Strategic Expansion

Cardinal Infrastructure Group describes itself as one of the Southeast’s fastest-growing infrastructure service providers. The company delivers civil construction and site development services through a self-performing business model supported by in-house labor forces, equipment fleets and subsidiary operations.

According to the company, its approach allows for greater control over project execution while providing clients with integrated construction solutions. Cardinal’s growth strategy has focused on operational expansion, geographic market development and strengthening its workforce capabilities.

The acquisition of Piedmont represents another step in that strategy, adding specialized utility construction expertise while reinforcing Cardinal’s presence across the Carolinas.

As with many publicly traded companies, Cardinal noted that future performance remains subject to market conditions, operational factors and other risks outlined in its regulatory filings. Company officials emphasized that forward-looking statements regarding growth expectations and future opportunities are subject to uncertainties that could affect actual results.

The transaction underscores continued consolidation activity within the construction and infrastructure sectors as companies seek to expand service offerings, increase regional market share and strengthen labor resources amid ongoing demand for infrastructure investment across the Southeast.

Source: Cardinal Infrastructure Group. Inc. in PR News Wire.