Cardinal Infrastructure Expands into Georgia with $245.5M ALGC Acquisition
Event summary
- Cardinal Infrastructure Group acquired A.L. Grading Contractors (ALGC) for $245.5M, expanding into Georgia.
- ALGC generated $160M in unaudited annual revenue with a 26.3% Adjusted EBITDA margin.
- Cardinal's 2026 revenue guidance raised to $664.9M–$678.3M with Adjusted EBITDA margin of at least 20%.
- ALGC's leadership, including President Lee Wood and VP Benji Wood, will join Cardinal's executive team.
The big picture
Cardinal's acquisition of ALGC marks its first expansion beyond the Carolinas, targeting Georgia's high-growth construction markets. The deal aligns with broader Southeast development trends, positioning Cardinal to capture demand across commercial, industrial, and residential sectors. With ALGC's strong financial profile and leadership integration, Cardinal aims to solidify its role as a premier site development contractor in the region.
What we're watching
- Integration Execution
- How Cardinal will integrate ALGC's operations to achieve margin expansion and schedule compression.
- Market Expansion
- Whether Cardinal can sustain rapid revenue growth in the broader Southeast market.
- Financial Leverage
- The pace at which Cardinal's pro forma net tangible leverage of 1.27x may evolve post-acquisition.
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