Construction Partners

Construction Partners builds and maintains roads, highways, and airports in the southeastern US. The company also supplies construction materials like asphalt and aggregates to public and private projects.

Products and Services

• Hot Mix Asphalt (HMA): Asphalt for paving roads, highways, and airports; used internally and sold to others.
• Aggregates: Sand, gravel, and stone mined for use in construction and asphalt production; sold to third parties.
• Liquid Asphalt Cement: Key ingredient in asphalt, distributed for internal use and external sales.
• Paving Services: Construction and resurfacing of roads, highways, and commercial sites for public agencies and private clients.
• Site Development: Prepares land for construction, including utility and drainage installation for new developments.

Growth and Expansion

• Completed eight acquisitions in FY2024, adding 11 asphalt plants across four states.
• Acquired Lone Star Paving in Texas in November 2024, expanding into Texas with 10 new plants.
• Increased credit facility to $400 million and secured $850 million Term Loan B in 2024 to fund growth.
• Launched "ROAD-Map 2027" plan, targeting over $3 billion in revenue by FY2027.

What Makes Construction Partners Stand Out

The company controls its supply chain, from raw materials to finished roads, which helps manage costs and efficiency. Its focus on the Sunbelt region positions it in areas with strong infrastructure spending. A mix of public and private clients reduces reliance on any single customer group.

Five Things You Need to Know

• Revenue was $1.82 billion in FY2024, up 16.7% from FY2023.
• Gross profit margin rose to 14.2% in FY2024, up from 12.6% in FY2023.
• Contract backlog reached $2.0 billion as of September 30, 2024.
• Net income was $68.9 million in FY2024, up 40.7% from FY2023.
• Public projects made up 63% of FY2024 revenue; Florida DOT was the largest customer.

Bottom Line

Construction Partners has grown through acquisitions and regional expansion, building a strong presence in the southeastern US. Its integrated model and diverse customer base support steady performance in a competitive industry.