AcquisitionsOct 1, 2026, 04:36 PM
Cardinal Infrastructure Group Acquires Allied Paving for $115M
AI Summary
Cardinal Infrastructure Group Inc. announced the closing of its acquisition of Allied Paving Contractors for approximately $115.0 million. The deal, comprising $88.9 million in cash and 1,006,796 shares of Cardinal's Class A Common Stock, aims to enhance Cardinal's self-performing capabilities in the Atlanta market. Allied Paving, which generated around $100 million in revenue standalone, will see its CEO, John McLean, join Cardinal's leadership team.
Key Highlights
- Cardinal Infrastructure Group Inc. acquired Allied Paving Contractors for approximately $115.0 million.
- The acquisition consideration included $88.9 million in cash and 1,006,796 shares of Cardinal's Class A Common Stock.
- Allied Paving generated approximately $100 million in revenue on a standalone basis.
- The acquisition expands Cardinal's self-performing capabilities in the Atlanta market.
- John McLean, CEO of Allied, will join Cardinal's leadership team to manage paving operations across Georgia.
Price Impact
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