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AI brief of an SEC Form 8-K · Construction Partners (ROAD)

Construction Partners completes Lone Star Paving acquisition, raises fiscal 2025 outlook

Positive Impact 4 of 5 m&a Written later

Construction Partners completed its acquisition of Asphalt Inc., LLC d/b/a Lone Star Paving and entered into an $850.0 million senior secured term loan to help fund it. The company also raised its fiscal 2025 guidance for revenue, net income, Adjusted EBITDA and Adjusted EBITDA Margin, citing a expected contribution from Lone Star. The filing does not give the prior guidance figures, so the size of the increase cannot be measured from this document.

Key points

  • Acquisition of Lone Star Paving closed; the press release is dated November 4, 2024, and the term loan is effective November 1, 2024.
  • $850.0 million senior secured first lien term loan, fully drawn, matures November 1, 2031, bears interest at Term SOFR plus 2.50%.
  • Raised fiscal 2025 outlook: revenue $2.48 billion to $2.58 billion; net income $97 million to $113 million; Adjusted EBITDA $347 million to $377 million.
  • On October 30, 2024, the existing credit agreement was amended, setting a maximum consolidated net leverage ratio of 4.50 to 1.00 for quarters through September 30, 2025.

The filing

CompanyConstruction Partners (ROAD)
Form8-K, current report
Filed with the SECNov 4, 2024, 4:10 PM ET
Accession number0001193125-24-250619

Items reported: 1.01 Material Definitive Agreement2.01 Acquisition or Disposition Completed2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:00 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 November 04, 2024.

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.