AcquisitionsApr 26, 2026, 05:31 AM
CDNL Acquires A.L. Grading Contractors; 2025 Revenue +45%
AI Summary
Cardinal Infrastructure Group Inc. (CDNL) announced the completion of its acquisition of A.L. Grading Contractors (ALGC) in February 2026, expanding its geographic footprint and management expertise. This follows a transformative 2025, which included a successful IPO in December 2025 that raised $241.5 million. The company reported strong financial results for 2025, with revenue up 45% to $456.0 million and net income up 10% to $31.1 million. CDNL also invited stockholders to its first Annual Meeting on June 5, 2026, to vote on the election of six directors and the ratification of Grant Thornton LLP as its independent auditor.
Key Highlights
- Completed acquisition of A.L. Grading Contractors (ALGC) in February 2026.
- ALGC acquisition expands geographic footprint and adds management expertise.
- Initial Public Offering (IPO) completed in December 2025, raising $241.5M gross proceeds.
- 2025 revenue reached $456.0M, a 45% increase from 2024.
- 2025 net income was $31.1M, up 10% from 2024.
- Backlog as of December 31, 2025, was $682M, a 33% increase YoY.
- Annual Meeting of Stockholders scheduled for June 5, 2026, in a virtual-only format.
- Proposals include election of six directors and ratification of Grant Thornton LLP as auditor.