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Construction Partners Completes Acquisition of S.E. Cline Construction

The Florida asphalt-paving platform adds site development and underground utility work along Interstate 95.

Construction Partners, Inc. (ROAD) acquired S.E. Cline Construction, Inc., adding site development and underground utility construction to the Florida platform of its subsidiary CWR and deepening its footprint along Interstate 95.

The company said the deal complements CWR’s existing asphalt paving operations in the greater Daytona Beach market and is intended to strengthen its ability to serve public and private infrastructure customers throughout the region.

Fred J. (Jule) Smith, III, the company’s president and chief executive officer, said, “We are pleased to welcome Scott Sowers and the Cline Construction team to the CPI family of companies. This transaction builds upon our acquisition of P&S Paving, Inc. in Daytona Beach last year and further strengthens CWR’s presence along Florida’s Interstate 95 corridor, a rapidly growing portion of the state. Cline Construction’s site development and underground utility construction capabilities strongly complement CWR’s existing asphalt paving and construction operations in the greater Daytona Beach market, enhancing our ability to serve public and private infrastructure customers throughout the region. In addition, the rail-served, permitted asphalt plant site in Bunnell provides an attractive opportunity for future vertical integration and organic growth as we continue to expand our operations along Florida’s east coast.”

Smith framed the purchase as a continuation of last year’s Daytona Beach deal for P&S Paving, Inc., and pointed to the Bunnell asphalt plant as a later integration option rather than a current operating asset.

The company did not disclose a purchase price, a cash-versus-stock mix, an exchange ratio, a premium, or a closing date.

CWR’s existing work remains asphalt paving and related construction in the Daytona Beach area; Cline Construction’s site development and underground utility work is the capability the company said it is adding.

The Interstate 95 corridor is the geographic thread Smith used to tie the two Florida platforms together.

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