Exhibit 99.1
Cardinal Infrastructure Group, Inc., Announces Closing of Allied Paving Contractors Acquisition
October 1, 2026
Raleigh, North Carolina – October 1, 2026 – Cardinal Infrastructure Group, Inc., (NASDAQ: CDNL) (“Cardinal” or “the Company”) announced today the closing of its acquisition of Allied Paving Contractors. The acquisition expands Cardinal's self-performing capabilities in the Atlanta market. Allied generated approximately $100 million in revenue on a standalone basis. A portion of that volume will be performed on Cardinal projects and therefore reflected in margin rather than consolidated revenue.
“We’re excited to add Allied’s experienced paving crews to our solutions in Northern Georgia,” said Benji Wood, Chief Operating Officer at Cardinal. “These enhanced capabilities allow us to sequence paving work directly behind our grading and site development teams, shorten project timelines and expand our existing self-perform capabilities to this market. Allied is one of the best in the business and we’re thrilled to bring their customer value proposition to our clients in the Atlanta market.”
John McLean, CEO of Allied, will join the Cardinal leadership team in managing paving operations across Georgia. This acquisition aligns with Cardinal’s strategy of targeting founder-led companies.
About Cardinal
Cardinal Infrastructure Group, Inc., (NASDAQ: CDNL) delivers its suite of comprehensive infrastructure services that support the planning, preparation, installation and development of residential, commercial, industrial and municipal infrastructure projects through wholly owned, market leading subsidiaries. Cardinal’s operations leverage in-house, highly skilled teams and equipment fleets to deliver wet utility installations (water, sewer, and stormwater systems), as well as site clearing, grading, erosion control, drilling and blasting, paving, and other related site services across the Southeast. Cardinal's relationship-based approach is grounded in operational discipline, market expansion, and a commitment to integrity from the ground up.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements about the Company's future performance. Statements that are predictive in nature, that depend upon or refer to future events or conditions or that include the words "may," "could," "plan," "project," "budget," "predict," "pursue," "target," "seek," "objective," "believe," "expect," "anticipate," "intend," "estimate," "will," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters identify forward-looking statements. These statements involve risks and uncertainties and Cardinal's actual results could differ materially from the results expressed or implied by such forward-looking statements. The potential risks, uncertainties and other factors that could cause actual results to differ from those expressed by the forward-looking statements in this press release include, but are not limited to, difficulty in sustaining rapid revenue growth, which may place significant demands on Cardinal's administrative, operational and financial resources; fluctuations in Cardinal's revenue and the concentration of Cardinal's business in the Southeastern United States; Cardinal's ability to integrate recent acquisitions and achieve anticipated benefits and synergies; expectations regarding backlog and Cardinal's ability to secure future contracts; expectations regarding demand in the markets that Cardinal serves and in general. Cardinal has based these forward-looking statements largely on its current expectations and projections regarding future events and trends that it believes may affect its business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject