Con Dig (13-Oct-26) — Cardinal Infrastructure Group has agreed to acquire Central Florida heavy civil contractor Hughes Brothers Construction for $357.5 million, establishing a substantial new regional platform for the infrastructure and site-development group.
The transaction, expected to close in the fourth quarter of 2026 subject to regulatory approval and customary conditions, could include up to $97.5 million in additional performance-related consideration. That would take the potential transaction value to approximately $455 million.
Hughes Brothers employs more than 500 people and recorded more than $220 million in revenue over the 12 months to June 30. Its backlog stands at approximately $350 million, giving Cardinal visibility into future work across residential, commercial, industrial and municipal projects.
The contractor specializes in earthworks, site preparation, underground wet utilities, gas mains and roadway construction. Its operating model includes substantial self-performed work and an owned equipment fleet, while co-founders Chad and Justin Hughes are expected to remain in leadership roles.
Cardinal said the acquisition would support further expansion across Florida, including opportunities for additional acquisitions and broader service offerings.
Why it matters: The deal represents a significant consolidation in Florida’s heavy civil market, giving Cardinal an established workforce, equipment fleet and project backlog rather than requiring it to build a regional operation from scratch.
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