An industry source said: "The firm is finalising discussions on the appointment. It is just a question of dotting the Is and crossing the Ts."
C&M, which is listed on the alternative investment market, has a history of corporate activity.
In 2001, it launched an audacious bid to take over Tay Homes, a company that at the time was twice its size, but lost out to Redrow in a bidding war.
In its last full-year results for the 12 months to 31 August, C&M turned in a pre-tax profit of £4m, a rise of 81% on the previous year.
Roydon has previously been chairman at Banner Homes and Swallow Homes.
C&M confirmed that it was looking for a non-executive director but would not say who had been appointed.