Southland Holdings

What Southland Holdings does

Southland Holdings, Inc. (NYSE American: SLND) is a Grapevine, Texas-based specialty infrastructure construction holding company founded in 1900, operating through five wholly-owned subsidiaries: American Bridge Company, Johnson Bros. Corporation, Oscar Renda Contracting, Southland Contracting, and Mole Constructors. Together these subsidiaries deliver bridges and transportation, tunneling, marine and port, water resources, and specialty structural projects for government agencies, municipalities, and select private clients across all 50 U.S. states and more than 60 countries, with Engineering News-Record top-10 rankings in water transmission (#3), bridges (#5), sanitary and storm sewers (#8), marine and port facilities (#9), water supply (#9), and water treatment and desalination (#10).

The company's underlying technology is heavy civil construction: hard rock and earth pressure balance tunnel boring machines, horizontal directional drilling, shield tunneling, NATM, pipe jacking, drill-and-blast, and a proprietary first-of-its-kind dual-diameter (37'-7" to 32'-6") Robbins TBM used on the Mill Creek Drainage Relief Tunnel. American Bridge operates the Ambridge, Pennsylvania steel fabrication facility (established 1901), and the in-house engineering department performs 3D modeling, erection analysis, and custom temporary works design. Southland's revenue model is project-based, driven by competitive bidding on government RFPs, design-build procurement, and joint venture partnerships (e.g., Tappan Zee Constructors, Red River Biosolids Partners) for mega-projects, with revenue recognition following contract milestones on multi-year backlogs.

FY2025 revenue was $772.2 million (down 21% from $980.2 million in FY2024), the company reported a $306.5 million net loss for the year and a $216.4 million Q4 2025 loss driven in large part by the Washington State Convention Center adverse judgment and subsequent surety settlement. Management reports a ~$1.88 billion backlog, a C$815 million Winnipeg biosolids contract win in July 2026, civil segment gross margin of 14% in Q1 2026, and is executing a financial and operational restructuring supported by approximately $59 million in surety advances, a new Chief Transformation Officer, and a $160 million Callodine term loan refinancing.

Name

Southland Holdings

Legal name

Southland Holdings, Inc.

Website

https://southlandholdings.com

Company type

Public

Founded year

1900

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Southland Holdings is a public heavy civil infrastructure construction holding company (NYSE American: SLND) that builds bridges, tunnels, marine facilities, water resources, and specialty structures through five subsidiaries for government and municipal clients across North America and internationally.

Ownership category

akta.pro rank

Product category

Heavy Civil Infrastructure Construction

NAICS

Utility System Construction (2371), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Operative Builders (1531)

akta.pro primary industry

Civil & Structural Engineering Consulting (BPAHAIAA)

akta.pro secondary industry

Overhead & Underground Collection System Construction (MV/HV Lines, Duct Banks) (EUAEADAG)

Keywords

• Heavy civil construction
• Bridge construction services
• Tunnel boring infrastructure
• Marine port construction
• Water pipeline construction

Headquarters

HQ city

Grapevine

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Infrastructure Construction Projects: Revenue generated from large-scale infrastructure construction contracts including bridges, tunnels, marine facilities, water resources, and specialty structures. Projects are typically awarded through competitive bidding from government agencies, municipalities, and private clients. Revenue recognition follows project completion milestones.
2. Construction Contract Backlog: Company reported approximately $1.88 billion in backlog with projects spanning civil segment achieving 14% gross margin. Revenue recognition from multi-year contracts with progressive billing.
3. Design-Build Projects: Many projects delivered under design-build procurement models where company participates in both design and construction phases, providing integrated project delivery.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Southland Holdings is a specialty infrastructure construction company operating through six wholly-owned subsidiaries (American Bridge Company, Johnson Bros. Corporation, Oscar Renda Contracting, Southland Contracting, Mole Constructors, and Oscar Renda Contracting of Canada) that deliver complex civil engineering projects across five markets: Bridges & Transportation, Tunnels, Marine, Water Resources, and Specialty Structures. The company primarily serves government agencies, municipalities, and select private developers through competitive bidding and design-build procurement, executing projects such as bridges, tunnels, water/wastewater facilities, marine ports, and iconic specialty structures including the San Francisco Oakland Bay Bridge and Las Vegas High Roller.

Product overview

Southland Holdings is a specialty infrastructure construction company that operates as a holding company with five subsidiaries: American Bridge Company, Johnson Bros. Corporation, Oscar Renda Contracting, Southland Contracting, and Mole Constructors. The company offers five core service categories: Bridges & Transportation, Tunnels, Marine, Water Resources, and Specialty Structures. The subsidiaries provide complementary capabilities - American Bridge handles structural steel and bridge construction, Johnson Bros. focuses on bridge, highway, and marine work, Oscar Renda specializes in water pipeline and wastewater projects, while Southland Contracting and Mole Constructors are tunneling specialists. Together they have built infrastructure across all 50 states and more than 60 countries, with over 120 years of combined experience in complex civil engineering projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Bridges & Transportation Construction
• Tunnel Construction
• Marine Construction
• Water Resources Construction
• Specialty Structures Construction
• Design-Build Project Delivery Integrated project delivery combining design and construction phases under design-build procurement models, where the company participates in both phases to deliver infrastructure projects.

Quantifiable outcome

• Ranked #3 in Water Transmission Lines, #5 in Bridges, #8 in Sanitary & Storm Sewers by Engineering News-Record
• +3 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered major, flagship and minor.

• Red River Biosolids PartnersmajorStrategic or Co-development Partner · 17 July 2026Joint venture comprising Aecon, MWH Constructors, and Oscar Renda Contracting of Canada (Southland subsidiary) awarded approximately C$815 million contract from City of Winnipeg for North End Water Pollution Control Centre biosolids facilities upgrade. Southland's 33.3% share valued at approximately $272 million CAD.
• Tappan Zee Constructors (TZC)flagshipStrategic or Co-development PartnerJoint venture comprised of Fluor Corporation (30%), American Bridge Company (23.3%), Granite Construction (23.3%), and Traylor Bros., Inc. (23.3%) for the $3.9 billion Governor Mario M. Cuomo Bridge design-build project. One of the largest infrastructure projects in New York history.
• Bridges to ProsperityminorStrategic or Co-development PartnerNonprofit partnership for building pedestrian bridges in underserved communities. Southland volunteers built 120m Cyahafi suspended bridge in Rwanda providing safe access to over 1,200 people.
• ObayashiminorStrategic or Co-development PartnerJoint venture partner with Johnson Bros. on Treasure Island Bascule Bridge Replacement project in Florida, valued at approximately $44.5 million.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Tutor Perini Corporation: US heavy civil construction company specializing in bridges, tunnels, water infrastructure, and specialty projects of comparable scale to Southland. Closest direct peer in terms of project mix and customer base (DOTs, municipal agencies).
• Granite Construction Incorporated: Heavy civil contractor with strong bridge, water, and tunnel capabilities; existing JV partner with Southland on the Tappan Zee Bridge project. Directly comparable in markets and customer types.
• Sterling Infrastructure, Inc. US specialty infrastructure company operating in heavy civil, transportation, and water segments. Closely comparable in size, segment mix, and public-sector customer base.
• Traylor Bros., Inc. Privately held heavy civil contractor with strong tunneling and bridge capabilities; JV partner with Southland on Tappan Zee Constructors. Direct competitor for the same specialty underground and bridge projects.
• Aecon Group Inc. Canadian construction and infrastructure contractor; JV partner with Southland's Oscar Renda subsidiary on the C$815M Winnipeg biosolids project. Direct competitor in Canadian water/wastewater infrastructure.
• MasTec, Inc. US infrastructure construction company with significant presence in heavy civil, water, and specialty infrastructure. Comparable business model of bidding public infrastructure contracts across multiple geographies.
• Flatiron Construction: Heavy civil contractor (HOCHTIEF subsidiary) focused on bridges, tunnels, and water infrastructure in North America. Closely comparable project mix and federal/state DOT customer base.

Broad incumbents

• Fluor Corporation: Large global EPC and infrastructure firm; JV partner with Southland on Tappan Zee Constructors. Operates at much broader scale and scope but competes on large infrastructure pursuits.
• Skanska USA: US arm of global construction firm Skanska AB; competes on heavy civil, bridge, water, and tunnel projects. Larger and more diversified but operates in Southland's core markets.
• Kiewit Corporation: One of North America's largest privately held construction firms; competes aggressively on heavy civil, water, bridge, and tunnel projects. Operates at broader scale but in the same specialty markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/southland-holdings
• Xx.com/OnlineSouthland
• Facebookfacebook.com/Southlandholdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries5 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Southland Holdings