Construction Partners said it acquired Asphalt Express Enterprises, a liquid asphalt supply and hauling business based in Ardmore, Oklahoma, adding transportation and supply capacity in Oklahoma and northern Texas.
The deal gives Construction Partners’ Oklahoma platform, Overland Corporation, Asphalt Express’s rail-served industrial site in Ardmore, plus a fleet of trucks and trailers used to move liquid asphalt. The company said the Ardmore property is expected to become the site of a future liquid asphalt terminal serving its Oklahoma and northern Texas operations.
The acquisition adds an existing customer base in both states, including hot-mix asphalt producers, and brings in a team already operating in the region. Construction Partners said the new assets are intended to support its asphalt production and construction operations by improving access to liquid asphalt and expanding sourcing and transportation flexibility.
The company did not disclose the purchase price or financial terms. As a result of these announcements, the company's shares have moved -2.36% on the market, and are now trading at a price of $107.50. For the full picture, make sure to review Construction's 8-K report.
