High materiality9/10
ROAD Stock Gains on Lone Star Paving Acquisition Agreement
Why it may matterVerify against the original reporting
The acquisition is projected to significantly enhance revenue and EBITDA, indicating strong growth potential.
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Construction Partners, Inc. to acquire Lone Star Paving for $654 million. Acquisition expected to boost revenues by $530 million and EBITDA by $120 million. ROAD shares surged 13.4% after news of the acquisition agreement. Lone Star enhances ROAD’s reach in rapidly growing Texas markets. Texas features the largest state transportation funding program supporting infrastructure.
- Construction Partners, Inc. to acquire Lone Star Paving for $654 million.
- Acquisition expected to boost revenues by $530 million and EBITDA by $120 million.
- ROAD shares surged 13.4% after news of the acquisition agreement.
- Lone Star enhances ROAD’s reach in rapidly growing Texas markets.
- Texas features the largest state transportation funding program supporting infrastructure.
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