Cardinal Infrastructure Group Poised for Growth in North Carolina

Construction company expands footprint and capabilities through strategic acquisitions

Feb. 5, 2026 at 5:31am

Got story updates? Submit your updates here. ›

Cardinal Infrastructure Group (NASDAQ:CDNL), a construction company focused on infrastructure services in the Southeastern United States, is emerging as a leader in the rapidly growing North Carolina market. Through a series of strategic acquisitions, the company has expanded its capabilities and geographic reach, positioning it for continued growth.

Why it matters

The Southeastern United States, particularly North Carolina, is experiencing significant population and job growth, driving demand for infrastructure services. Cardinal Infrastructure Group's focus on this high-growth region and its ability to provide a comprehensive suite of infrastructure services make it well-positioned to capitalize on these market trends.

The details

Cardinal Infrastructure Group has grown both organically and through acquisitions since its founding in 2013. The company has completed six acquisitions to date, including Harrelson Utility Repair & Contracting Inc. in 2021, G. Goodwin Enterprises, LLC in 2022, Monroe Roadways, Inc. in 2023, Purcell Construction, Inc. in 2025, Page & Associates, Inc. in 2025, and Red Clay Industries, Inc. in 2025. These acquisitions have allowed Cardinal to expand its capabilities beyond its initial focus on wet utility installations, adding services such as grading, site clearing, erosion control, drilling and blasting, paving, and other related site services.

  • Cardinal Infrastructure Group was founded in 2013 in Raleigh, North Carolina.
  • The company completed the acquisition of Harrelson Utility Repair & Contracting Inc. in 2021.
  • In 2022, Cardinal acquired G. Goodwin Enterprises, LLC.
  • Monroe Roadways, Inc. was acquired by Cardinal in July 2023.
  • Purcell Construction, Inc. was acquired by Cardinal in January 2025.

The players

Cardinal Infrastructure Group

A construction company focused on infrastructure services in the Southeastern United States, with a strong presence in North Carolina.

Jeremy Spivey

The Chief Executive Officer and founder of Cardinal Infrastructure Group.

Got photos? Submit your photos here. ›

What they’re saying

“We believe we are well positioned to continue growing our revenue and profitability in a very fragmented and highly attractive industry.”

— Jeremy Spivey, Chief Executive Officer (transcriptdaily.com)

What’s next

Cardinal Infrastructure Group is expected to continue its expansion strategy, with potential future acquisitions and organic growth in the North Carolina market.

The takeaway

Cardinal Infrastructure Group's strategic acquisitions and focus on the high-growth Southeastern U.S. market, particularly North Carolina, have positioned the company as a leading provider of comprehensive infrastructure services in the region.