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Cardinal Infrastructure Group, Inc., Announces Closing of Allied Paving Contractors Acquisition

CDNL
  • Cardinal Infrastructure Group, Inc. (NASDAQ: CDNL) announced the closing of its acquisition of Allied Paving Contractors.
  • The deal expands Cardinal's self-performing capabilities within the Atlanta market.
  • Allied generated approximately $100 million in standalone revenue, with a portion of this volume expected to be reflected in margins on Cardinal projects rather than consolidated revenue.
  • Benji Wood, Chief Operating Officer at Cardinal, stated the acquisition adds experienced paving crews to Northern Georgia operations to shorten project timelines.
  • John McLean, CEO of Allied, will join Cardinal's leadership team to manage paving operations across Georgia.
  • The acquisition aligns with Cardinal's strategy of targeting founder-led companies.
  • Cardinal provides comprehensive infrastructure services across the Southeast, including wet utility installations, grading, erosion control, drilling, blasting, paving, site clearing, & other related site services.