{
  "docId": "019dd923-622c-750b-8b99-a016b8cafb9e",
  "docSlug": "aeaf881b8cf7",
  "documentTitle": "Construction Partners, Inc. (ROAD)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-01-23 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 55,
  "pageCount": 70,
  "prevPage": 54,
  "nextPage": 56,
  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 3,
  "notes": "The slide uses a combination of press release excerpts and map-based evidence to cast doubt on the acquisition's quality.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "callout_box",
    "screenshot",
    "map",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b99-a016b8cafb9e/55",
  "deckHref": "/decks/019dd923-622c-750b-8b99-a016b8cafb9e",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b99-a016b8cafb9e.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-a016b8cafb9e#slide-55",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.46,
        "x": 0.52,
        "y": 0.38
      },
      "kind": "image",
      "text": "Overland's Plant Locations In Oklahoma",
      "attrs": null,
      "subkind": "map",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2482021f-ee70-4e2a-b43b-197b77729e1f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.52,
        "w": 0.48,
        "x": 0.02,
        "y": 0.38
      },
      "kind": "image",
      "text": "Construction Partners, Inc. Acquires Platform Company in Oklahoma",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b7553f8c-ac22-48c6-85ac-c1e979295805",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.46,
        "x": 0.52,
        "y": 0.65
      },
      "kind": "image",
      "text": "Google Search: Oklahoma Road Paving Companies",
      "attrs": null,
      "subkind": "screenshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d90013ec-137c-41d9-8b47-ec93d0aa6f83",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.21,
        "w": 0.96,
        "x": 0.02,
        "y": 0.165
      },
      "kind": "paragraph",
      "text": "Shortly after Spruce Point identified the weak bids in Texas and operational issues with the MSHA and TCEQ, we were not surprised to see ROAD issue another press release that it is expanding into Oklahoma with the acquisition of Overland Corp.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0906c73d-38c8-4f4e-a22e-7dce8fe8ef4b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.96,
        "x": 0.02,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Press Release, Google Search. 1) Overland Corp. does not list any mine operations at MSHA, 2) OK DOT HMA Plant list",
      "attrs": {
        "numbered": true
      },
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f69e40fb-ad61-4055-ab7a-6d3a6c86592d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.368,
        "x": 0.316,
        "y": 0.045
      },
      "kind": "title",
      "text": "Quickly Pivoting To Oklahoma",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "dce868b2-1bf1-4e8d-bec5-0b2cf48e3b3b",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [
    {
      "name": "fraud-exposure",
      "slug": null,
      "matchId": "aa001fa1-fed1-4ff7-abd6-22e50bb5d6df",
      "evidence": "Critiquing acquisition quality and lack of disclosure to suggest management misdirection.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}