Construction Partners, Inc. (CPI) says it has acquired Rose Brothers Paving Company, Inc., an asphalt and paving contractor based in Ahoskie.
The transaction adds six hot-mix asphalt plants in eastern North Carolina, providing the vertically integrated civil infrastructure company with access to additional markets and expanding its footprint in the state, CPI said in a statement. The company, which specializes in the construction and maintenance of roadways across five southeastern states, expects to continue to operate under the name Rose Brothers Paving Company in certain of the acquired markets, the statement said.
(The Rose Brothers Paving website associates the company with Fred Smith Company, based in Raleigh. Fred Smith Company was acquired by CPI in 2011.)
“This transaction represents an important strategic step for our organization as we expand into new North Carolina markets,” said CPI’s chief operating officer Fred J. (Jule) Smith, III. “We welcome our new team members and look forward to a bright future in these market areas under the continuing leadership of Tim Rose and his team.”
“We are bullish on the North Carolina market and believe that long-term demographic trends and recent transportation funding initiatives are creating tailwinds for infrastructure and economic development in the state,” he said in the statement. “As a result of the Rose Brothers transaction and our previously announced acquisition of Riley Paving, Inc. in October, we now have 15 hot-mix asphalt plants strategically located throughout North Carolina and 45 hot-mix asphalt plants company-wide.”