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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Fred J. Smith, III ExecutiveBoard | President, Chief Executive Officer, and Director | N/A | Current CEO and Director of ROAD. No additional details about his biography or external roles are available in the documents. | View Report → |
Gregory A. Hoffman Executive | Senior Vice President and Chief Financial Officer | N/A | Joined ROAD in 2009. Previously CFO of WCC (subsidiary), promoted to SVP Finance in 2021, and CFO in 2023. Formerly held roles at Corporate Express, APAC-Georgia, and Ernst & Young. | |
Todd K. Andrews Executive | Chief Accounting Officer | N/A | Joined ROAD in 2008 as Controller, promoted to CAO in 2018. Previously CFO at Graceba Total Communications and held accounting roles at banking institutions. CPA with dual degrees in Accounting and Computer Science. | |
Charles E. Owens Board | Vice Chairman of the Board | N/A | Founder of ROAD, served as President and CEO until 2021. Oversaw acquisition and integration of ~35 companies during his tenure. | |
Craig Jennings Board | Director | Partner and CFO at SunTx | Board member since 2017. Partner and CFO at SunTx since 2001. Former VP of Finance at Spinnaker Industries and Senior Audit Manager at Ernst & Young. CPA with a BBA from the University of Toledo. | |
Mark R. Matteson Board | Director | Chairman of Freedom Truck Finance, LLC; Board Member at Anchor Partners, LLC | Founding member of ROAD, serving as Director since 2001. Extensive knowledge of the company and industry. | |
Michael H. McKay Board | Director | Advisory Partner at Bain & Company; Board Member at Hubbardton Forge, LLC | Director since 2002. Advisory Partner at Bain & Company since 2009. Former Senior Lecturer at Brandeis International Business School. MBA from University of Chicago and BA in Economics from Harvard. | |
Noreen E. Skelly Board | Director | CFO at Blue Sky Bank | Director since 2019. Former CFO at Broadway National Bank and Veritex Holdings. Started career at Federal Reserve Bank of Chicago and Board of Governors of the Federal Reserve System. MBA from University of Chicago. | |
Stefan L. Shaffer Board | Director | Managing Partner of SPP Capital Partners | Director since 2018. Co-founder and Managing Partner of SPP Capital Partners. Former VP at Bankers Trust Company and private law practitioner at White & Case LLP. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Mobile Asphalt Company LLC | 2025 | Acquired for $55.8 million using cash and revolving credit; included five HMA plants, crews, and equipment to expand CPI’s market in Mobile and southwestern Alabama, capitalizing on regional growth. |
Overland Corporation | 2025 | Acquired for $121.1 million, adding eight HMA plants and paving services in Oklahoma and northern Texas, marking CPI’s entry into its eighth state and supporting efforts to reduce its leverage ratio. |
Lone Star Paving | 2024 | Acquisition valued at approximately $893.1 million in total consideration (cash, stock, and additional payments) that added 10 HMA plants, aggregate facilities, and a liquid asphalt terminal, significantly expanding CPI’s geographic footprint in Texas. |
John G. Walton Construction Company, Inc. | 2024 | Acquired for $38.9 million; included an HMA plant with strategic access to water and rail, expanding CPI’s presence in the Mobile metro area and southwestern Alabama, with $12.5 million in goodwill recorded. |
Robinson Paving Company | 2024 | Acquired for approximately $59.5 million; the deal brought in three HMA plants and related operations in Columbus, Georgia, to enhance CPI’s presence along the growing Columbus metro area adjacent to Georgia and Alabama. |
Hudson Paving, Inc. | 2024 | Acquired for $19.1 million, adding an HMA plant in Rockingham, NC along with crews and equipment to bolster CPI's service capabilities in the Sandhills region, integrated under the Fred Smith Company platform. |
Sunbelt Asphalt Surfaces, Inc. | 2024 | Acquired for $28.6 million; the transaction brought an active HMA plant and a greenfield site in Georgia’s I-85 corridor, along with equity awards, enhancing CPI’s market position in northeastern Georgia. |
Littlefield Construction Company | 2024 | Acquired for $6.4 million; the acquisition in Waycross, GA expanded CPI’s service offerings in soil base, surface treatment, and sitework, complementing the construction of a new greenfield HMA plant and adding valuable crews and equipment. |
Reeves Construction Company | 2023 | Acquired for $16.0 million; the purchase included three HMA plants and construction operations across North Carolina and South Carolina, strengthening CPI’s position in the Charlotte and Upstate markets. |
Hubbard Paving & Grading, Inc. | 2023 | Acquired for $2.9 million; integrated into King Asphalt, Inc., this deal added one HMA plant and broadened CPI’s service market in the Upstate region of South Carolina. |
C.R. Jackson, Inc. | 2023 | Acquisition valued between $9.1 and $9.5 million; brought an HMA plant and related assets in Myrtle Beach, South Carolina, to enhance CPI’s presence in a dynamic, fast-growing market. |
Huntsville Operations of Southern Site Contractors | 2023 | Acquired for $1.1 million; this transaction bolstered CPI’s vertical integration in the Huntsville, AL market by adding excavation, grading, and utilities assets along with skilled employees and equipment. |
Pickens Construction, Inc. | 2023 | Acquired for $5.0 million; the addition of one HMA plant and related operations in Anderson, SC (near Greenville) expanded CPI’s footprint along the I-85 corridor, integrating roughly 20 employees into King Asphalt, Inc.. |
Ferebee Corporation | 2022 | Acquired as announced on December 2, 2022; this deal brought three HMA plants in the Charlotte metro area to expand CPI’s reach into western North Carolina and accelerate revenue and margin growth. |
Three HMA Plants from Blue Water Industries | 2022 | Acquired on November 18, 2022, for a net cash of $28.0 million; the deal, which included a transfer arrangement for aggregate sourcing rights, expanded CPI’s presence in the Nashville metro area and was integrated with the Wiregrass Construction Company platform. |
Southern Asphalt, Inc. (NC) | 2022 | Acquired for $11.7 million; the North Carolina transaction in Burgaw provided market access to Wilmington, added an experienced paving team, and generated approximately $7.4 million in goodwill. |
Southern Asphalt, Inc. (SC) | 2022 | Acquired for $25.6 million; focused on the Conway, SC market, this acquisition added two HMA plants and over 200 employees to serve Horry County and the Myrtle Beach metro area, with provisional goodwill of about $0.3 million. |
GAC Contractors, Inc. | 2022 | Acquired on March 18, 2022, expanding CPI’s capabilities in Panama City, FL; the acquisition included an HMA plant, seasoned crews, and equipment to serve both private and public markets, with funding provided by the revolving credit facility. |
Recent developments and announcements about ROAD.
Earnings
New Earnings (Q1 2025)
·Feb 7, 2025, 6:23 PMView full earnings summary →ROAD Q1 highlights a $2.66B backlog and mid-to-high single-digit state funding growth. Recent M&A boosts margins but lifts leverage to about 3x near-term. Cost inflation at 4–5% could pressure margins, yet record backlog supports disciplined bidding and revenue growth.
Press Releases
Press Release
·Feb 12, 2025, 1:49 AMView full press release →Investor alert: Pomerantz LLP is investigating potential securities fraud at Construction Partners after a report raised concerns over poor transparency and aggressive financial practices. On Jan 23, the stock fell 10.99% to $92.78.