Morgan Corp.

What Morgan Corp. does

Morgan Corp. is a family-owned heavy civil and industrial construction contractor founded in 1945 and headquartered in Duncan, South Carolina. The company self-performs site preparation, earthwork, underground utilities, soil stabilization, roller-compacted concrete (RCC) paving, landfill construction, water resources/dam work, and — through its Industrial Division — heavy industrial general contracting covering structural concrete, steel, equipment installation, piping, electrical, and geostructural scopes. Wholly owned subsidiary Palmetto Rock provides specialized rock drilling and blasting services. The company operates through four regional division offices in Duncan (SC), Charlotte (NC), Raleigh (NC), and Savannah (GA), serving enterprise clients across the Southeast United States.

The business runs on a project-based, bid-and-contract commercial model. Projects range from small commercial sites to mega-developments exceeding 1,000 acres and 20 million cubic yards of excavation, with scopes spanning multi-year industrial contracts at power, mining, process chemical, and pharmaceutical facilities. Technology deployment centers on GNSS/GPS machine-controlled grading, in-house drone surveying, digital terrain modeling, heavy equipment simulators for training, electronic blasting initiation, and a modern equipment fleet including the RapidMix 600 continuous pugmill mixer. The company highlights a national leadership position in RCC paving with over 26 million square feet completed and an industry-leading safety record (EMR 0.55, 1.4 million work hours without a lost-time injury).

Morgan Corp. generates revenue through one-time project contracts with custom per-project pricing, sourced via enterprise field sales, longstanding client relationships, prime and subcontractor roles, and direct engagement with general contractors and project owners. Customer concentration is diversified across verticals — power/energy (Duke Power, Southern Company, Shaw), manufacturing (BMW, Bridgestone, Microsoft), retail/logistics (Wal-Mart, SC Ports Authority), mining (Ridgeway Gold Mine), residential development, and environmental/landfill work. The Johnson family has owned and operated the business since 1971, with Stewart Johnson as Chairman and his son David Johnson as CEO.

Name

Morgan Corp.

Legal name

Morgan Corp.

Website

https://morgan-corp.com

Company type

Private

Founded year

1945

Operating status

Operating

Headcount range

251–500 employees

Short description

Morgan Corp. is a family-owned heavy civil and industrial construction contractor serving enterprise clients across the Southeast US with site preparation, RCC paving, landfill, water resources, drilling/blasting (via Palmetto Rock), and industrial general contracting delivered through four regional offices.

Ownership category

akta.pro rank

Product category

Heavy Civil Construction

NAICS

Site Preparation Contractors (23891), Other Heavy and Civil Engineering Construction (237990)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), General Bldg Contractors - Nonresidential Bldgs (1540), Operative Builders (1531)

akta.pro primary industry

Self-Performing General Contractors (IMAFAAAI)

akta.pro secondary industries

Industrial/Process Plant General Contracting (IMAFAAAH), Commercial General Contracting (New Build) (IMAFAAAA)

Headquarters

HQ city

Duncan

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Heavy Civil Construction Projects: Morgan Corp. generates revenue through project-based contracts for heavy civil construction services including site preparation, underground utilities, soil stabilization, roller-compacted concrete, and landfill construction. Projects range from small construction sites to large distribution centers, dams, and nuclear power facility preparation.
2. Industrial General Contractor Services: The Industrial Division operates as a heavy industrial general contractor self-performing structural concrete, structural steel, equipment installation, piping, geostructural and electrical scopes for power, mining, process chemical, and pharmaceutical markets.
3. Drilling and Blasting Services (Palmetto Rock): Palmetto Rock, a wholly owned subsidiary, provides rock drilling, blasting, and mechanical rock-splitting services for quarries, mines, construction sites, and specialized demolition work across the Southeast.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Morgan Corp. is a heavy civil and industrial construction contractor that self-performs site preparation, earthwork, underground utilities, soil stabilization, landfill construction with environmental liner systems, roller-compacted concrete (RCC) paving, water resources/dam work, and industrial general contracting (structural concrete, steel, piping, geostructural, electrical). The company also operates Palmetto Rock Services, Inc., a wholly owned subsidiary providing rock drilling and blasting for quarries, mines, and construction sites. Services are delivered through four division offices across the Southeast United States on a project-based, contract-by-contract basis.

Product overview

Morgan Corp. is a heavy civil construction company offering a portfolio of specialized construction services organized around core capabilities: heavy civil site preparation and earthwork, landfill construction with environmental protection systems, industrial general contracting (structural concrete, steel, piping, electrical, geostructural), underground utilities installation, soil stabilization, roller compacted concrete (RCC) pavement construction, and water resources/dam services. The company also operates Palmetto Rock as a wholly owned subsidiary providing specialized drilling and blasting services. These services are delivered through multiple operating divisions (Spartanburg, Charlotte, Raleigh, Savannah) across the Southeast United States, serving markets including commercial/industrial development, residential, landfills, power/energy, and water resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Heavy Civil Construction Services Core construction services spanning site preparation, earthwork, grading, and civil infrastructure projects for commercial, industrial, and infrastructure applications across the Southeast United States. Targeted at enterprise owners and general contractors executing warehouses, manufacturing facilities, distribution centers, airports, and large-scale site developments.
• Landfill Construction Services Comprehensive landfill construction including clay liners, HDPE geomembrane liner systems, leachate collection systems, drainage mediums, and protective covers for environmental protection. Targeted at municipalities, private waste operators, and engineering firms needing landfill cell construction, environmental closure, and regulatory-compliant liner installation.
• Industrial Division Services Heavy industrial general contractor services including structural concrete, structural steel, equipment installation, piping, geostructural work, and electrical services. Targeted at power, mining, process chemical, and pharmaceutical markets that need self-performed industrial trades for capital projects.
• Underground Utilities Services
• Soil Stabilization Services
• Roller Compacted Concrete (RCC) Construction Cost-effective and durable rigid pavement construction using roller-compacted concrete for industrial facilities, transportation, commercial facilities, dams, spillways, and reservoirs. Morgan Corp. has completed over 26 million square feet of RCC pavements. Targeted at power, manufacturing, port/logistics, and dam clients needing heavy-duty pavement that delivers higher structural capacity at lower cost than traditional asphalt designs.
• Palmetto Rock Drilling and Blasting Services
• Water Resources and Dam Services

Quantifiable outcome

• EMR of 0.55 (a fraction of the industry average)
• +6 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

Feature7 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Kajima Design and Building GroupminorStrategic or Co-development PartnerMorgan Corp. served as a paving subcontractor to Kajima Design and Building Group for the Bridgestone Tire Plant project in Aiken County, SC, constructing RCC paving for the second phase of the project.
• Mountaineer ContractorsminorStrategic or Co-development PartnerMorgan Corp. was the RCC paving subcontractor working with prime contractor Mountaineer Contractors on the Prichard Intermodal project in West Virginia, mixing, transporting and placing over 21,000 cubic yards of RCC paving.
• Gresham Smith & PartnersminorStrategic or Co-development PartnerGresham Smith & Partners designed the pavement section for the Bridgestone Tire Plant project in coordination with Morgan Corp.'s RCC construction services.
• DPR ConstructionminorStrategic or Co-development PartnerMorgan Corp. partnered with DPR Construction for several days to help clear the high-visibility entrance way of Hitchcock Woods after Hurricane Helene damage, demonstrating community service and collaborative recovery efforts.
• Shaw (Cliffside Modernization Project)minorStrategic or Co-development PartnerAwarded the Cliffside Modernization project in 2007, Morgan Corp.'s first major project with Shaw, involving construction of a new coal-fired power unit at the Cliffside Steam Station in North Carolina.
• Various Southeast General ContractorscoreChannel Partner/ Reseller/ DistributorMorgan Corp. maintains longstanding relationships with top general contractors across the Southeast, serving as both prime contractor and subcontractor on large-scale projects. These relationships are built on reputation, quality, and safety performance.

Scale indicators8 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Construction Partners, Inc. Publicly traded (NASDAQ: ROAD) heavy civil and infrastructure contractor focused on the Southeast U.S., providing site preparation, grading, paving, and utilities for highways, airports, and commercial/industrial sites. Highly comparable to Morgan Corp.'s Civil Division in geography, service mix, and customer profile.
• Blythe Construction (a Quanta company): Heavy highway and site development contractor based in the Carolinas/Southeast, operating as part of Quanta Services. Directly comparable to Morgan Corp. in Southeast-focused site preparation, grading, paving, and utility work for transportation and industrial clients.

Broad incumbents

• Granite Construction Incorporated: Large publicly traded heavy civil construction company (NYSE: GVA) operating across the U.S. with capabilities spanning site preparation, excavation, paving, and infrastructure. Comparable in core heavy civil services but at significantly larger national scale and broader geographic reach.
• Sterling Infrastructure, Inc. Publicly traded (NASDAQ: STRL) infrastructure solutions provider with heavy civil, transportation, and building services across the U.S. Comparable to Morgan Corp.'s site preparation, RCC paving, and industrial site work, though with national scale and additional segments (e.g., modular concrete).
• MasTec, Inc. Large publicly traded (NYSE: MTZ) infrastructure construction company serving power, communications, oil & gas, and utility markets nationally. Comparable through its heavy civil and site preparation work for energy and industrial customers, though with substantially larger and more diversified footprint.
• Quanta Services, Inc. Largest publicly traded (NYSE: PWR) infrastructure services provider in North America, with utility, energy, and communications construction. Comparable to Morgan Corp.'s site prep and utility work for energy and power customers, though at massively larger scale and broader service portfolio.
• Tutor Perini Corporation: Publicly traded (NYSE: TPC) civil, building, and specialty construction company delivering large-scale infrastructure projects including highways, tunnels, and power facilities. Comparable for large industrial site prep and heavy civil scopes, though with broader national presence and larger contract sizes.
• Fluor Corporation: Major publicly traded (NYSE: FLR) global engineering, procurement, fabrication, construction, and project management company. Comparable for large industrial site preparation and power/energy project execution (e.g., nuclear), though at vastly larger global EPC scale.

Regional players

• Crowder Construction Company: Privately held heavy civil and industrial contractor headquartered in Charlotte, NC, serving the Southeast with site development, dam construction, and heavy industrial work. Closely comparable geographic and service overlap with Morgan Corp.'s Civil Division in the Carolinas.
• Evans Construction Company: Privately held Southeast-based site development and heavy civil contractor serving commercial, industrial, and residential markets across the Carolinas, Georgia, and Virginia. Comparable in service mix (site prep, utilities, grading) and Southeast regional focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries1 record

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 Morgan Corp.