Cardinal Infrastructure Group Expands Footprint in North Carolina

Acquisition of Red Clay Industries boosts company's capabilities in asphalt paving and concrete services

Jan. 30, 2026 at 3:15am

Got story updates? Submit your updates here. ›

Cardinal Infrastructure Group (NASDAQ:CDNL), a leading provider of comprehensive infrastructure services in the Southeastern United States, has announced the acquisition of Red Clay Industries, Inc., a North Carolina-based company specializing in asphalt paving, concrete contracting, concrete reclamation, and soil stabilization. This strategic move expands Cardinal's geographic reach and service offerings, solidifying its position as a full-service turnkey infrastructure solutions provider.

Why it matters

The acquisition of Red Clay Industries aligns with Cardinal's growth strategy of expanding its capabilities and footprint in the fast-growing North Carolina market. By adding Red Clay's expertise in asphalt and concrete services, Cardinal can now offer a more comprehensive suite of infrastructure solutions to its diverse customer base, which includes major home builders, general contractors, and municipal clients. This move strengthens Cardinal's position as a leading player in the region's booming construction and infrastructure development sectors.

The details

Through the acquisition, Cardinal has added Red Clay's specialized expertise and equipment in asphalt paving, concrete contracting, concrete reclamation, and soil stabilization to its existing suite of services, which includes wet utility installations, grading, site clearing, erosion control, drilling and blasting, and paving. The integration of Red Clay's operations and personnel will further enhance Cardinal's ability to deliver turnkey infrastructure solutions efficiently and cost-effectively.

  • Cardinal Infrastructure Group was founded in 2013 in Raleigh, North Carolina.
  • The company has completed six acquisitions since its founding, with the most recent being the acquisition of Red Clay Industries in October 2025.

The players

Cardinal Infrastructure Group

A leading provider of comprehensive infrastructure services in the Southeastern United States, offering a range of services including wet utility installations, grading, site clearing, erosion control, drilling and blasting, paving, and now asphalt paving, concrete contracting, concrete reclamation, and soil stabilization through the acquisition of Red Clay Industries.

Red Clay Industries, Inc.

A North Carolina-based company that specializes in asphalt paving, concrete contracting, concrete reclamation, and soil stabilization, which has been acquired by Cardinal Infrastructure Group to expand its service offerings and geographic reach.

Jeremy Spivey

The Chief Executive Officer of Cardinal Infrastructure Group, who founded the company in 2013 in Raleigh, North Carolina.

Got photos? Submit your photos here. ›

What they’re saying

“The acquisition of Red Clay Industries is a strategic move that aligns with our growth strategy and strengthens our position as a leading provider of comprehensive infrastructure services in the Southeastern United States.”

— Jeremy Spivey, Chief Executive Officer, Cardinal Infrastructure Group (Company Press Release)

What’s next

Cardinal Infrastructure Group plans to fully integrate Red Clay Industries' operations and personnel into its existing business, leveraging the combined expertise and resources to deliver an even more comprehensive suite of infrastructure solutions to its growing customer base across North Carolina.

The takeaway

The acquisition of Red Clay Industries by Cardinal Infrastructure Group demonstrates the company's commitment to expanding its capabilities and geographic reach to better serve the booming construction and infrastructure development sectors in the Southeastern United States, particularly in the fast-growing North Carolina market.