The Daily Dig:
Adolfson & Peterson Construction is handing off the CEO role this June, with Chief Operating Officer Brad Hendrickson stepping up as Jeff Hansen retires. Hansen's been running the company since 2017, and the handoff, set for June 1, 2026, caps a multi-year succession plan the board's been working through as the family-owned firm hits its 80th year.
The Minneapolis based construction manager and general contractor says business is moving. They're tracking toward more than $1.5 billion in total revenue, already have 87% of next year's backlog locked in, and grew headcount by a quarter over the last 12 months, all while managing the leadership transition.
Snapshot:
Company: Adolfson & Peterson Construction (AP)
Announcement Issued From: Minneapolis
CEO Transition Effective: June 1, 2026
Incoming CEO: Brad Hendrickson (current COO)
Retiring CEO: Jeff Hansen (CEO since 2017)
Ownership: Family-owned
Firm Type: Construction management and contracting
Longevity: 80th anniversary
Financial Outlook: Projected total revenue to exceed $1.5 billion
Backlog: 87% of next fiscal year backlog secured
Workforce: 25% growth over the past year
TheJobWalk Thoughts:
When a builder this size swaps CEOs, it's worth watching, but not because everything's about to change. Hendrickson's already the COO, which means he's been running day-to-day for a while. The playbook isn't getting rewritten. What matters more is the backdrop: backlog's nearly full for next year, they just staffed up hard, and revenue's pushing $1.5 billion. That's a company in execution mode, not exploration mode. If you're a sub or supplier trying to get on their radar, don't treat this like a reset where the door suddenly swings open. You're still better off proving yourself on a smaller package now than pitching cold when they're already at capacity.
