Construction Partners closes Lone Star Paving acquisition; raises FY2025 outlook

Construction Partners, Inc.

Acquisition closed Nov 1 for $654.2M cash and 3.0M shares of Class A common stock.
Issued $850M term loan with Bank of America as administrative agent to finance deal and refinance debt.
Lone Star becomes Texas platform company operating in central Texas high-growth markets.
FY2025 revenue guidance raised to $2.48B–$2.58B; Adjusted EBITDA $347M–$377M.
Net income guidance $97M–$113M; expects meaningful Lone Star contribution in last two months of Q1.

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