---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-240069"
form_type: "8-K"
ticker: "ROAD"
cik: "0001718227"
company_name: "Construction Partners, Inc."
filed_at: "2024-10-21T23:59:59+00:00"
generated_at: "2026-05-30T12:22:39.107808+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# CPI acquires Lone Star Paving for $654M cash + 3M shares; reports record FY2024 preliminary results

## Summary
- Acquisition of Lone Star (Austin, TX) for $654M cash + 3M Class A shares; HSR cleared; expected close by Dec 31, 2024.
- Lone Star's FY2025 annualized run-rate contribution: $530M revenue, $120M Adj EBITDA; transaction immediately accretive.
- FY2024 prelim: Revenue $1.821-1.825B (up 17% YoY), net income $68-70M (up 40%+), Adj EBITDA $219-222M (up 27%).
- FY2025 outlook: Revenue $2.420-2.520B; Adj EBITDA margin target of 13-14% by FY2025, two years ahead of ROAD-Map 2027.
- Entered $750M bridge loan facility to finance cash consideration; BofA Securities and PNC Capital Markets lead arrangers.

## SEC filing metadata
- accession: 0001193125-24-240069
- form_type: 8-K
- ticker: ROAD
- cik: 0001718227
- company_name: Construction Partners, Inc.
- filed_at: 2024-10-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 2.02, 3.02, 5.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1718227/000119312524240069/0001193125-24-240069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1718227/000119312524240069/d855143d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-240069
- JSON: https://secwatch.observer/filing/0001193125-24-240069.json
- Plain text: https://secwatch.observer/filing/0001193125-24-240069.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.