Cardinal Infrastructure Closes Acquisition of Allied Paving Contractors

PR Newswire··US·Read original
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Summary · why it matters

Cardinal Infrastructure Group, Inc. announced the closing of its acquisition of Allied Paving Contractors, expanding the company's self-performing capabilities in the Atlanta market. Allied generated approximately $100 million in revenue on a standalone basis, though Cardinal said a portion of that volume will be performed on Cardinal projects and therefore reflected in margin rather than consolidated revenue. Chief Operating Officer Benji Wood said the addition of Allied's paving crews in Northern Georgia will let Cardinal sequence paving work directly behind its grading and site development teams, shorten project timelines and expand self-perform capabilities in the market. John McLean, CEO of Allied, will join the Cardinal leadership team to manage paving operations across Georgia, and Cardinal said the deal aligns with its strategy of targeting founder-led companies. Cardinal Infrastructure Group trades on NASDAQ under the ticker CDNL.

Impact on assets 2

Industrials▲ · 1 stocks
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Off-coverage companies 1

Allied Paving ContractorsPrivate▲ Positive
Capitalrelevance

Allied Paving Contractors was acquired by Cardinal, with its CEO joining Cardinal's leadership team.

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