Cardinal closes $115.0 million Allied Paving acquisition, paying in cash and 1,006,796 shares
Cardinal Infrastructure Group completed its acquisition of Allied Paving Contractors on October 1, 2026, for approximately $115.0 million, paid in cash and 1,006,796 newly issued Class A shares, subject to customary post-closing adjustments. The deal expands Cardinal's self-performed paving work in the Atlanta market, and Allied generated approximately $100 million in standalone revenue, though part of that volume will be performed on Cardinal projects and reflected in margin rather than consolidated revenue. Shareholders will see the share issuance dilute their holdings slightly, and the filing gives no profit or earnings figures for Allied.
Key points
- Acquisition of Allied Paving Contractors closed October 1, 2026, for approximately $115.0 million in total consideration
- Consideration included approximately $88.9 in cash and 1,006,796 Class A Common Stock shares, issued without registration under Section 4(a)(2)
- Allied generated approximately $100 million in revenue on a standalone basis
- Allied CEO John McLean will join Cardinal's leadership team to manage paving operations across Georgia
The filing
Written by AI on Nov 9, 2026, 11:48 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 01, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.