Cardinal Infrastructure Group provides site preparation and infrastructure construction services, primarily across North Carolina metro markets. Cardinal's core work involves preparing raw land for construction — installing underground wet utilities (water, sewer, and stormwater), grading and clearing land, drilling and blasting rock, managing erosion control, and paving roads and driveways. Home builders are Cardinal's primary customers, representing roughly two-thirds of revenue, with Cardinal handling subdivision prep work before residential construction begins. Cardinal also serves commercial, industrial, and retail developers, as well as municipal and state customers. Cardinal operates primarily across Raleigh, Charlotte, and Greensboro, and is expanding into Atlanta following its February 2026 acquisition of A.L. Grading Contractors. Nearly all revenue comes from fixed unit price or lump sum contracts, where Cardinal bears the cost risk of delivering defined scope for a set price. Cardinal acts as prime contractor on nearly all projects, completing most work with its own crews and equipment. Cardinal argues this vertical integration allows it to complete projects faster than competitors, which home builders value highly. Most home builder work is awarded through direct negotiation rather than competitive bidding, providing margin flexibility. Cardinal is also expanding into materials production, building its own asphalt and precast concrete plants to internalize raw material costs. Cardinal has grown through a combination of organic expansion and acquisitions, typically entering new markets via small tuck-in acquisitions and then growing organically.