# Cardinal Infrastructure Group Inc. (CDNL) — merger [announced]
Source: SEC API (secapi.ai) · situation sit_6fee3bbfcf50530bce2a · retrieved 2026-08-14T01:24:24.493Z

## Overview
Cardinal Infrastructure Group Inc. is one of the Southeast's fastest-growing, full-service infrastructure service providers delivering integrated civil and site development solutions across high-growth markets through a self-performing model supported by skilled labor, specialized fleets and market-leading subsidiaries.

Cardinal Infrastructure Group Inc. announced the acquisition of Allied Paving Contractors, Inc., an Atlanta-based paving and heavy site construction contractor. The total consideration is approximately $120 million, consisting of approximately $62 million in cash and Class A Common Stock valued at approximately $58 million, subject to customary post-closing adjustments. Allied generates approximately $108 million in annual revenue at a 20.3% adjusted EBITDA margin, making this a 5.5x adjusted EBITDA purchase. The Class A Common Stock to be issued will be subject to a six-month lock-up, and the cash portion will be funded from cash on hand. The acquisition is expected to close in early October 2026.

## Terms
- Counterparty: Allied Paving Contractors, Inc. · Deal value: $120.0M · Consideration: mixed

## Key dates
- Announced 2026-08-11 · Expected close 2026-10-01

## Timeline
- 2026-08-11 · 8-K (0001193125-26-343397): 8-K - Cardinal Infrastructure Group Inc. — *Cardinal Infrastructure Group Inc. is one of the Southeast's fastest-growing, full-service infrastructure service providers delivering integrated civil and site development solutions across high-growth markets through a self-performing model supported by skilled labor, specialized fleets and market-leading subsidiaries.* Cardinal Infrastructure Group Inc. announced the acquisition of Allied Paving Contractors, Inc., an Atlanta-based paving and heavy site construction contractor. The total consideration is approximately $120 million, consisting of approximately $62 million in cash and Class A Common Stock valued at approximately $58 million, subject to customary post-closing adjustments. Allied generates approximately $108 million in annual revenue at a 20.3% adjusted EBITDA margin, making this a 5.5x adjusted EBITDA purchase. The Class A Common Stock to be issued will be subject to a six-month lock-up, and the cash portion will be funded from cash on hand. The acquisition is expected to close in early October 2026.
  https://www.sec.gov/Archives/edgar/data/2079999/0001193125-26-343397.txt

## Citations
- 0001193125-26-343397 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000119312526343397