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Construction Partners, Inc. Announces Planned Management Transition

DOTHAN, AL — Construction Partners, Inc. (CPI or Construction Partners), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across six southeastern states, announces — in accordance with the company's management succession plan — that Greg Hoffman will succeed Alan Palmer as Chief Financial Officer. Palmer will continue with the company in an advisory and mentoring role. As Chief Financial Officer, Hoffman will assume full leadership of the financial team, expanding his oversight of the accounting and financial operations.

Commenting on the succession plan, Fred J. (Jule) Smith, III, the company's President and Chief Executive Officer said, "Alan's financial leadership and oversight over the past 20 years have been instrumental in the formation and growth of Construction Partners. Alan has played a pivotal role in developing and growing a proficient and strong organization, building CPI's financial reputation, and establishing and maintaining the solid financial structure on which we operate today."

"I am personally grateful to Alan for his mentorship and wisdom over the years and am thankful for his many contributions to our organization," Smith added. "Alan's leadership and ability to mentor employees has undoubtedly contributed to CPI's success, including his support and guidance for Greg Hoffman as part of the succession plan. All of us at CPI are extremely thankful to Alan for his years of dedicated service, commitment to the business, and leadership within our organization."

"It has been an honor to be a part of the Construction Partners family for more than 20 years," Palmer said. "I have worked with an incredible group of dedicated people who embrace the culture and values of CPI. I have worked closely with Greg, first in his role as the CFO of Wiregrass, and then as CPI's Senior Vice President of Finance for the past 18 months. I am confident in Greg's ability to assume the CFO role and to continue working closely with Jule, the rest of the leadership team, and all of our operating companies. His experience, energy, and skills will help carry CPI well into the future."

Hoffman has served as the company's Senior Vice President, Finance since April 2021. Prior to that, he served as Chief Financial Officer of Wiregrass Construction Company, CPI's Alabama subsidiary, from 2009 to 2021. Before joining CPI, Hoffman served in various roles of increasing responsibility at Corporate Express, Inc., a Staples company, including as Division Controller and Vice President, Operations, and also as Division Controller for APAC-Georgia, Inc., a heavy civil infrastructure company. Prior to APAC, he was a Manager at Ernst & Young LLP, where he directed audit engagement teams serving a variety of industries, including construction. Hoffman holds a Bachelor of Science in accounting from the University of Alabama.

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"We have full confidence in Greg as he takes over for Alan," Smith said. "Greg has 20 years of relevant experience in our industry. ... In addition to financial analysis and accounting skills, Greg offers project leadership, strategic planning, and supply chain management expertise. We look forward to Greg's leadership of our financial team and expect him to make valuable contributions to the company."

"I am pleased to assume this new role within CPI's executive team," Hoffman said. "The company's record of growth in the infrastructure market demonstrates its commitment to providing robust solutions and comprehensive services. I look forward to helping continue this success."

Ned Fleming, CPI's Executive Chairman, said, "Over the years, CPI has cultivated a deep bench of financial talent, which has allowed for this seamless role change and natural continuation of existing responsibilities. This transition is an important milestone for Construction Partners, representing our continued growth as a company and as an organization that values human capital development and succession planning."

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