Haynes Boone represented Construction Partners, Inc. (NASDAQ: ROAD) (“CPI”) in its acquisition of Overland Corporation (“Overland”), an asphalt manufacturing and paving company headquartered in Ardmore, Oklahoma.
The acquisition of Overland is the second recent significant transaction by CPI advised by Haynes Boone, following its $950 million acquisition of Lone Star Paving in November. CPI’s addition of eight hot-mix asphalt plants from one of the top infrastructure contractors in Oklahoma will further its geographic footprint into North Texas and Oklahoma as the company continues to enhance its market position.
Overland provides paving services throughout southern and western Oklahoma and northern Texas on a variety of public, commercial and residential projects. Through this transaction, CPI will add to position itself for success as the Dallas metro area continues to expand northward.
CPI is a vertically integrated civil infrastructure company specializing in the construction, repair and maintenance of surface infrastructure across eight southeastern states.
Haynes Boone's cross-practice team handled all aspects of the transaction. Texas-based Mergers and Acquisitions Partner Kellie Bobo led the deal team with support from Partner Bryan Diebels and Associates Taylor Calvert, Mary Claire Cranford and Janet Wyse.
"We are proud to continue to partner with CPI and support them in this strategic transaction that will expand their reach and strengthen their market position in Texas and Oklahoma," Bobo said.
Haynes Boone’s M&A Practice Group has comprehensive experience handling middle-market deals, having helped clients close more than 500 transactions in the last five years, with an aggregate value exceeding $50 billion. The firm routinely represents private equity firms, closely held corporations, founders, large financial institutions and Fortune 500 public companies.
