Construction Partners has acquired Asphalt Express Enterprises, expanding the company’s vertical integration with liquid asphalt supply, transportation infrastructure and a rail-served industrial site supporting operations in Oklahoma and North Texas.
Financial terms of the acquisition were not disclosed.
Asphalt Express is headquartered in Ardmore, Oklahoma and supplies and transports liquid asphalt to hot-mix asphalt producers across Oklahoma and northern Texas.
As part of the transaction, Construction Partners’ Oklahoma platform company, Overland Corporation, acquired Asphalt Express’ rail-served Ardmore industrial property along with its fleet of trucks and trailers.
The site currently receives liquid asphalt by rail before the material is transported to customers.
Construction Partners plans to develop the Ardmore property into a future liquid asphalt terminal serving its own operations in Oklahoma and North Texas.
The company views that infrastructure as a way to gain greater control over access to a critical raw material used in asphalt production.
A dedicated terminal could also increase flexibility around procurement and transportation while supporting continued growth of Construction Partners’ regional asphalt operations.
In the near term, Asphalt Express’ existing transportation fleet and experienced personnel will expand Construction Partners’ hauling capabilities.
Construction Partners is already vertically integrated across hot-mix asphalt plants, aggregate facilities and liquid asphalt terminals.
The company operates throughout Alabama, Florida, Georgia, North Carolina, Oklahoma, South Carolina, Tennessee and Texas and focuses primarily on roadway construction, repair and maintenance.
Publicly funded infrastructure represents the majority of its business, including state and local roadways, interstate highways, bridges and airport runways.
The Asphalt Express transaction strengthens the supply-chain side of that model by bringing more liquid asphalt logistics and future storage capacity under Construction Partners’ control.
KEY QUOTE:
“Asphalt Express’s liquid asphalt supply and transportation capabilities complement our existing operations in Oklahoma and Texas, while its centrally located, rail-served site in Ardmore provides an attractive location for a future liquid asphalt terminal serving both states.”
Fred J. Smith III, President And CEO Of Construction Partners
