secwatch.observer — SEC 8-K summary
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Issuer:     Construction Partners, Inc. (ROAD)
CIK:        0001718227
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001193125-24-240069
Event type: m_and_a
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 2.02, 3.02, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718227/000119312524240069/0001193125-24-240069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718227/000119312524240069/d855143d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-240069

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