Cardinal Infrastructure Group, Inc., (NASDAQ:CDNL) ("Cardinal" or "the Company") announced the acquisition of Piedmont Pipe Construction, Inc., ("Piedmont"). Founded in 1999, Piedmont is a leading wet utilities provider across North and South Carolina. Headquartered near Charlotte, NC, this acquisition expands Cardinal's wet utility capabilities in the high-growth Charlotte market. Piedmont will operate under the Cardinal Civil Contracting brand.
"We are pleased to welcome Piedmont to the Cardinal family," said Jeremy Spivey, Chairman and Chief Executive Officer. "This acquisition is a clear example of our tuck-in strategy building density in our existing high-growth regions and deepening vertical integration. The addition of Piedmont's wet utility-focused crews strengthens our robust, owned labor force and positions us to better serve growth across the Charlotte metro area at greater scale. We welcome the entire Piedmont team to Cardinal and look forward to what we will build together."
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