BIRMINGHAM, Ala. (March 13, 2026) – Founders is pleased to announce that HRI, Inc, a subsidiary of Colas Inc., was acquired by Glenn O. Hawbaker, Inc. (“GOH”). Colas Inc. was exclusively advised by principals of Founders Advisors, LLC in this transaction. The transaction closed February 20, 2026. 

HRI, Inc. is a diversified construction company with expertise in highways, airports, bridges, water and wastewater treatment facilities, asphalt paving and site development across central and western Pennsylvania and surrounding markets. The company runs six hot-mix asphalt plants that support its paving and construction operations. As part of GOH, the combined entity expands capabilities and deepens its regional presence while continuing the standards of performance that have long defined both businesses. 

Hunter Creech, Colas Inc. Vice President – Mergers & Acquisitions, shared, “Working with Founders Advisors was a valuable experience from start to finish. They added expertise and insights throughout the process, and they kept focus on our strategic objectives. We’re pleased to have found the right partner in Glenn O. Hawbaker to carry forward the legacy of HRI.” 

Dennis Coker, Managing Director at Founders Advisors, remarked, “It was a privilege to advise Colas on this transaction. HRI has built a strong reputation for quality, safety, and reliability in the infrastructure markets it serves. We’re proud to have helped facilitate this next chapter with Glenn O. Hawbaker, a company that shares those same values and brings the resources and vision to take both divisions to new heights.” 

About HRI, Inc. HRI, Inc. is an established provider of heavy civil construction and infrastructure services, serving public and private sector customers across Pennsylvania and the surrounding region. Its capabilities span highway and bridge construction, asphalt paving, site development, and related infrastructure services. HRI is known for their commitment to safety, quality, and long-term customer relationships. HRI is headquartered in State College, PA. 

About Glenn O. Hawbaker, Inc. Glenn O. Hawbaker, Inc. is a leading heavy and highway contractor with over 70 years of experience, serving both private and public sector customers across Pennsylvania, Ohio, West Virginia, Maryland, and southern New York. Founded in 1952 by Glenn and Thelma Hawbaker in State College, PA, GOH provides a wide range of services including site development, highway and bridge construction, asphalt paving, aggregate production, concrete work, and engineering design services. The company operates more than 24 quarries and 8 asphalt production facilities and employs over 1,000 professionals. GOH is headquartered in State College, PA. 

About Founders Founders Advisors brings deep sector expertise in Construction Materials and Building Products, supported by broader experience across Industrial, Technology, Healthcare, and Consumer markets. If you are exploring a potential sale or evaluating strategic options, please feel free to reach out to our team. 

To provide securities-related services, certain principals of Founders Advisors, LLC are licensed with Founders M&A Advisory, LLC, member FINRA and SiPC. Founders M&A Advisory, LLC is a wholly owned subsidiary of Founders Advisors, LLC. Neither Founders Advisors nor Founders M&A Advisory provide investment advice. For more information, please visit www.foundersib.com.