A press release issued by Construction Partners, Inc announced the sale of Conway’s Southern Asphalt for $25.2 million.
The sale marks the continuation of generational market change we are witnessing in Horry County including:
- The sale of Brittain Resort Hotels to EOS Partners, LLC
- The sale of Mayor Bethune’s Better Brands to a Charleston, S.C. firm for $300 million.
- The sale of the Sand Castle Oceanfront Resorts for $15.1 million.
- The listing of the Sea Mist Resort for $55 million.
- The sale of Wild Water and Wheels to an outside investment group.
- The sale of the Family Kingdom in Myrtle Beach.
Each of these sales have occurred in the last 12 to 24 months.
SOUTHERN ASPHALT SALE
Southern Asphalt is located at 207 Beaty St, Conway, SC 29526. The company’s former owner, Donald Godwin, was politically minded and known to support local candidates and causes.
Fred J. (Jule) Smith, III, Construction Partners, Inc.’s President and Chief Executive Officer, said, “We are pleased to extend our footprint into eastern South Carolina with today’s transaction. Horry County and the larger Myrtle Beach metro area are among the fastest-growing markets in the nation, resulting in opportunities to bid on an attractive mix of public and commercial projects. We welcome a talented and experienced workforce to our team, and we look forward to operating in this dynamic region of South Carolina.“
The press release issued by the purchaser states: Construction Partners, Inc. is a vertically integrated civil infrastructure company operating across five southeastern states, with 59 hot-mix asphalt plants, 14 aggregate facilities and one liquid asphalt terminal. Publicly funded projects make up the majority of its business and include local and state roadways, interstate highways, airport runways and bridges. The majority of the Company’s public projects are maintenance-related. Private sector projects include paving and sitework for office and industrial parks, shopping centers, local businesses and residential developments.
Company’s Purchase filing
