What Fred Smith Company does

Fred Smith Company is a Raleigh, North Carolina-based heavy civil construction and asphalt paving contractor, founded in 1927 (originally as C.C. Mangum Company) and now operating as a wholly-owned subsidiary of Construction Partners, Inc. (CPI, NASDAQ: ROAD), which acquired the business in 2011. The company provides end-to-end horizontal construction services across North Carolina, including highway and road construction, airport runway construction, bridge and structural work, residential and commercial sitework, subdivision and parking lot paving, and federal projects for the U.S. Army Corps of Engineers (USACE) and Department of Defense (DoD) at installations such as Fort Liberty and Camp Lejeune. Its core technical capability is vertically integrated asphalt production and paving, anchored by 17 company-owned hot-mix asphalt plants distributed across the state, each with on-site quality control laboratories and capabilities in warm-mix asphalt technology and recycled asphalt pavement (RAP/RAS) production, with the company reporting 560,258 tons of waste diverted from landfills in 2023 alone. The business operates through multiple divisions (Eastern, Central, Commercial, Public, Fleet, Utility) and employs over 1,200 people.

The company generates revenue primarily through project-based, bid-driven contracts with federal, state, and municipal government agencies (NCDOT, USACE, DoD, Town of Cary, Town of Duck) and through subcontracting or direct engagement with commercial and residential developers (Gilbane Building Company, CT Wilson Construction, Pinehurst Resort, Crescent Communities, Cambridge Properties). A secondary revenue stream comes from direct sales of hot-mix asphalt from its 17 plants to third-party contractors and municipalities, priced per ton. The go-to-market is enterprise field sales combined with competitive public-sector bidding (RFP), supported by industry association memberships (NAPA, AGC, ARTBA, CAPA, NC Chamber) and a long-standing brand reputation built over nearly a century of North Carolina operations. Between 2020 and 2024 the company executed an aggressive acquisition strategy, absorbing Riley Paving, Rose Brothers Paving, Gelder & Associates, R.P.C. Contracting (2020), PLT Construction (2021), Southern Asphalt (2022), and Hudson Paving (2024) to scale its plant network and geographic reach.

Name

Fred Smith Company

Legal name

Fred Smith Company

Website

https://fredsmithcompany.net

Company type

Private

Founded year

1927

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Fred Smith Company is a Raleigh, North Carolina-based heavy civil construction and asphalt paving contractor serving federal, state, municipal, and commercial clients across the state through 17 owned asphalt plants and 1,200+ employees.

Ownership category

akta.pro rank

Product category

Heavy Civil Construction and Asphalt Paving

NAICS

Structural Steel and Precast Concrete Contractors (23812)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Asphalt Paving & Roofing Materials (2950)

akta.pro primary industry

Mass Excavation & Bulk Earthmoving (Cut/Fill, Grading) (IMAFAKAC)

Keywords

• Heavy civil construction
• Asphalt paving services
• Highway road construction
• Asphalt plant production
• Sitework grading utilities

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices22 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Heavy Civil Construction Services: Project-based revenue from horizontal construction services including highway construction, airport runway construction, bridge and structures, residential/commercial sitework, and subdivision/parking lot work. Revenue earned through competitive bidding on public and private projects.
2. Asphalt Production and Sales: Production and sale of hot-mix asphalt from 17 company-owned plants across North Carolina. Revenue from supplying asphalt to company projects and external customers.
3. Federal and Government Contracts: Revenue from federal projects including USACE and DoD contracts for military installations, airports, and infrastructure.

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Fred Smith Company is a heavy civil construction contractor that produces hot-mix asphalt from 17 company-owned plants across North Carolina and delivers paving, grading, utility, and structural services for highways, airports, military installations, subdivisions, and commercial developments. The company offers end-to-end horizontal construction, from initial earthwork and site preparation through final asphalt surfacing, including design/build and Construction Manager/General Contractor (CM/GC) delivery for complex projects. Federal, state, municipal, commercial, and residential customers are served through direct contracts, competitive bids, and subcontracting arrangements.

Product overview

Fred Smith Company is North Carolina's premier asphalt paving and heavy highway contractor offering a unified portfolio of construction services. The core offering centers on asphalt production through their 17 strategically located asphalt plants, which feed into paving operations for highways, roads, runways, subdivisions, and parking lots. Supporting services include airport runway construction, bridge and structural work, residential and commercial sitework, federal government projects (USACE/DoD), and design/build delivery methods. The company operates as a vertically integrated construction firm where internal asphalt production supports all paving projects, supplemented by earthwork, grading, utility installation, and concrete services. The portfolio is delivered through multiple divisions (Eastern, Central, Commercial, Public, Fleet, Utility) across North Carolina.

Differentiator

Problem solved

Functional benefit

Products and services

• Airport Runway Construction Runway construction and repair services for airports across North Carolina, using advanced technology, equipment, and materials to build durable runways that meet aviation regulations and specifications.
• Asphalt Paving Expert asphalt paving services for creating smooth, durable driving surfaces using quality materials, expert craftsmanship, and proven techniques for roads, parking lots, and subdivisions.
• Asphalt Plants Hot-mix asphalt production with 17 strategically located plants across North Carolina, each with its own quality control lab producing warm mix asphalt, recycled asphalt pavement (RAP/RAS), and premier materials meeting state and customer specifications.
• Highway and Road Construction Construction of transportation networks including major interstates and state roads, focused on sustainable roads built using recycled materials and innovative techniques.
• Residential and Commercial Sitework Earthwork, grading, and site preparation services including turnkey grading solutions, drainage, and solid foundations for residential subdivisions and commercial developments.
• Subdivision / Parking Lot Maintenance and Reconstruction Maintenance and reconstruction services for subdivisions and parking lots using advanced milling equipment and quality materials to create safe driving surfaces for projects of any size.
• Federal USACE and DoD Services Construction services for federal, U.S. Army Corps of Engineers (USACE), and Department of Defense (DoD) agencies including foundations at military bases, military airport runways, flight lines, and site preparation.
• Bridge and Structures Design, construction, and maintenance of bridges ranging from small pedestrian bridges to large-scale highway overpasses, plus retaining walls and structural components.
• Design/Build Comprehensive design/build services providing seamless project execution from concept to completion, including Construction Manager/General Contractor (CM/GC) delivery method for early involvement and cost optimization on complex infrastructure projects.

Quantifiable outcome

• Saved 560,258 tons of waste from landfills through recycled content in 2023
• +3 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

14 partnerships are on record, tiered minor and core.

• CWR ContractingminorOthersSister company within the CPI family of companies, operating in Florida.
• Wiregrass ConstructionminorOthersSister company within the CPI family of companies, operating in Alabama/Tennessee.
• Scruggs CompanyminorOthersSister company within the CPI family of companies, operating in Georgia.
• FerebeeminorOthersSister company within the CPI family of companies, operating in South Carolina.
• King Asphalt Inc.minorOthersSister company within the CPI family of companies, operating in South Carolina.
• North Carolina Department of Transportation (NCDOT)coreOthersPrimary government client for state highway and infrastructure projects. Fred Smith Company has completed multiple NCDOT projects including Wade Avenue (3.4 miles) and I-40 (7.2 miles).
• NAPA (National Asphalt Pavement Association)minorOthersIndustry association member; sponsor of NAPA's Road Forward Initiative for sustainable asphalt practices.
• NC ChamberminorOthersState chamber of commerce membership for business networking and advocacy.
• CAPA (Carolinas Associated General Contractors)minorOthersRegional construction industry association membership.
• National Safety CouncilminorOthersSafety association partnership supporting company's safety-first culture.
• AGC of America (Associated General Contractors)minorOthersNational construction industry association membership.
• ARTBA (American Road & Transportation Builders Association)minorOthersNational transportation construction industry association membership.
• American Society of Safety ProfessionalsminorOthersSafety professional association supporting employee training and certifications.
• EPA Energy StarminorOthersCommitted EPA Energy Star Partner through parent company CPI, demonstrating environmental commitment.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• APAC-Atlantic (CRH): Regional asphalt and aggregate operations of CRH plc, one of the largest U.S. materials producers. Directly comparable vertically-integrated asphalt plant network competing for DOT work across the Carolinas and Southeast.
• Granite Construction Incorporated: Publicly-traded (NYSE: GVA) heavy civil and materials producer with vertically-integrated asphalt plants across the U.S. Larger and more diversified than Fred Smith, but directly comparable business model of plant + paving + heavy civil.
• The Lane Construction Corporation: Large, multi-state heavy civil contractor (Webuild Group subsidiary) operating across the Southeast and U.S. Competes with Fred Smith on larger highway and federal projects, with broader geographic reach and larger balance sheet.
• Archer Western Construction (Walsh Group): Major national heavy civil contractor (Walsh Group subsidiary) active on federal, DOT, and bridge projects across the Southeast. Larger and broader portfolio, but competes on similar NCDOT and federal infrastructure bids.

Direct peers

• Blythe Construction: Charlotte, NC-headquartered heavy highway and asphalt contractor (subsidiary of Hubbell Incorporated). Operates asphalt plants in NC and SC and competes head-to-head with Fred Smith on NCDOT highway and interstate projects.
• Crowder Constructors: Charlotte-based heavy civil and infrastructure contractor. A current Fred Smith subcontractor on the I-40 project and a direct competitor for NCDOT, municipal water, and sitework projects across the Carolinas.
• S.T. Wooten Corporation: North Carolina-based heavy civil and asphalt paving contractor with multiple plants across the state. Directly competes with Fred Smith for NCDOT, municipal, and commercial sitework work, with similar service offerings and customer mix in NC.
• Reeves Construction Company: Georgia-based asphalt paving and heavy highway contractor (Colas subsidiary) operating across the Southeast. Comparable vertically-integrated plant-and-pave model with similar state DOT, municipal, and commercial sitework customer base.

Regional players

• Vecellio Group: Florida-based heavy civil contractor with asphalt and aggregate operations across the Southeast (via Ranger Construction and White Rock Quarries). Comparable vertically-integrated plant-and-pave model, but primarily serves FL and adjacent markets.
• Summers-Taylor Inc. Tennessee-based heavy highway and asphalt paving contractor with vertically-integrated plant operations. Comparable business model and DOT customer base, but primarily competes in TN/KY/VA rather than NC.

Market position

Strengths1 record

Weaknesses4 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FredSmithCompany
• LinkedInlinkedin.com/company/fred-smith-company
• Instagraminstagram.com/fredsmithconstruction

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Fred Smith Company