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Campaigns / Spruce Point Capital → Construction Partners, Inc.
Spruce Point Capital vs. Construction Partners, Inc.

Construction Partners, Inc. · ROAD

1 deck published between 2025-01-23 and 2025-01-23 — 70 pages, 70 analysed slides total.

initial thesis

Timeline

Each deck in chronological order — click to open. This is the story of the campaign as it unfolded.

  1. 2025-01-23 initial thesis

    2025 01 67924a8394e5006c58a4717e_road_research_thesis_1 23 2025

    70pp · full_deck

    ROAD is a levered Sunbelt asphalt roll-up whose Florida DOT engine is quietly stalling — FOIA shows -22% award decline — and its $1bn Lone Star deal masks the gap; we see 35-50% downside.