Companies
Cardinal closes ~$115M Allied Paving buy to deepen Atlanta self-perform
Form 8-K Acc 0001193125-26-410735: Oct 1 Completes for Allied Paving; ~$115M (~$88.9M cash + 1,006,796 Class A shares).
Grant Ellis · TickerGrove Industrials Desk · Published · Updated
Sources
Based on verified sources: Cardinal Infrastructure Group Inc. Form 8-K AccNo 0001193125-26-410735, filed 2026-10-01 (earliest event 2026-10-01) — consummated acquisition of Allied Paving Contractors, Inc. for approximately $115.0 million consideration (~$88.9 million cash + 1,006,796 Class A shares), subject to customary post-closing adjustments; EX-99.1 Completes release (Atlanta/northern Georgia self-perform; Allied ~$100 million standalone revenue); PR Newswire wire of the Completes release.
Based on Cardinal Infrastructure Group Inc. Form 8-K AccNo 0001193125-26-410735 filed October 1, 2026 (earliest event October 1, 2026) and Exhibit 99.1 Completes release, disclosing the Allied Paving close at approximately $115.0 million consideration, as of this source check.
Cardinal Infrastructure Group completed its purchase of Allied Paving Contractors on October 1, 2026, paying about $115 million in cash and stock, according to a Form 8-K and Completes release that expand the company's self-perform paving bench in Atlanta and northern Georgia.
Cardinal Infrastructure Group said it closed its acquisition of Allied Paving Contractors on October 1, 2026, adding paving crews that can follow the company's grading and site-development work in the Atlanta market.
What closed October 1
Cardinal Infrastructure Group Inc. (NASDAQ: CDNL) reported in a Form 8-K that on the Closing Date of October 1 it consummated the acquisition of Allied Paving Contractors, Inc. Consideration was approximately $115.0 million, consisting of about $88.9 million in cash and 1,006,796 shares of Cardinal Class A common stock, subject to customary post-closing adjustments. The shares were issued in a private placement under Securities Act Section 4(a)(2), the filing said.
A company release furnished as Exhibit 99.1 framed the deal as expanding Cardinal's self-performing capabilities in Atlanta and northern Georgia. Allied generated approximately $100 million in revenue on a standalone basis, the company said, while noting that a portion of that volume will be performed on Cardinal projects and therefore show up in margin rather than consolidated revenue.
How Cardinal is pitching the bench
Chief Operating Officer Benji Wood said Allied's crews let Cardinal sequence paving directly behind grading and site development, shorten project timelines, and broaden self-perform capacity in the market. Allied CEO John McLean will join Cardinal's leadership team managing paving operations across Georgia, the company release said. Cardinal cast the purchase as consistent with a strategy of targeting founder-led companies.
Cardinal's Form 8-K AccNo 0001193125-26-410735 (Items 3.02, 7.01, and 9.01) and Exhibit 99.1 are the company disclosures for the October 1 close.
Cardinal closes ~$115M Allied Paving purchase
Cardinal said it finished buying Allied Paving Contractors on October 1, 2026 for about $115 million in cash and stock. Allied brings paving crews in the Atlanta area. Allied had roughly $100 million in standalone revenue, Cardinal said.
CDNL Allied Paving close: ~$115M cash+stock Oct 1
Oct 1 close: Allied Paving at ~$115.0M (~$88.9M cash + 1,006,796 Class A) under Acc 0001193125-26-410735 Item 3.02; EX-99.1 adds Atlanta self-perform framing and ~$100M Allied standalone revenue. Post-close adjustments still open — no EBITDA/headcount here.
What the October 1 filing does not settle
This October 1 package does not disclose Allied EBITDA, employee count, backlog, or the final post-adjustment cash figure. Item 3.02 prints "$88.9 of cash" inside an approximately $115.0 million consideration — the article treats that cash leg as approximately $88.9 million. It also does not recite a separate closing date for any other pending Cardinal transaction.
Document trail
Sources & evidence
Sources used for this piece.
U.S. Securities and Exchange Commission / Cardinal Infrastructure Group Inc.
Cardinal Infrastructure Group Inc. Form 8-K — Allied Paving Completes
Form 8-K · 2026-10-01
Cardinal Infrastructure Group Inc. via PR Newswire / SEC EX-99.1
Exhibit 99.1 — Cardinal Announces Closing of Allied Paving Contractors Acquisition
Press Release · 2026-10-01
PR Newswire
Cardinal Infrastructure Group, Inc., Announces Closing of Allied Paving Contractors Acquisition
Press Release · 2026-10-01
Visual brief
Verified figures
Sources & evidenceAllied Paving acquisition consideration
$115.0M
USD
Close 2026-10-01; disclosed Form 8-K filed 2026-10-01
U.S. Securities and Exchange Commission / Cardinal Infrastructure Group Inc.Cardinal Infrastructure Group Inc. Form 8-K — Allied Paving CompletesForm 8-K · 10-01-2026Cash portion of consideration
$88.9M
ApproximateUSD
Close 2026-10-01; disclosed Form 8-K filed 2026-10-01
U.S. Securities and Exchange Commission / Cardinal Infrastructure Group Inc.Cardinal Infrastructure Group Inc. Form 8-K — Allied Paving CompletesForm 8-K · 10-01-2026Allied standalone revenue (company-stated)
$100M
ApproximateUSD
Standalone basis; disclosed Completes EX-99.1 Oct 1, 2026
Cardinal Infrastructure Group Inc. via PR Newswire / SEC EX-99.1Exhibit 99.1 — Cardinal Announces Closing of Allied Paving Contractors AcquisitionPress Release · 10-01-2026
Corrections
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