Brothers National LLC has merged operations with Pavement Partners Holding LLC to create Pave America LLC. Pave America is a provider of maintenance-driven pavement solutions including repair, milling, sealcoating and striping services to commercial, municipal, industrial, utility and HOA customers with nationwide coverage through an extensive self-perform and outsourced vendor model.
In less than two years, Pave America has closed and integrated a litany of acquisitions and plans to continue to execute an aggressive organic growth and acquisition strategy. The company’s primary investors, Trivest Partners and Shoreline Equity Partners will maintain dual control in the business going forward, and Lincoln Road Global Management will retain minority equity ownership. As part of the transaction, Tom York, formerly at Pavement Partners, will assume the role of Pave America CEO and Paul Garner, formerly at Brothers, will serve as President.
“The opportunity to combine these two businesses to form one of the leading pavement service providers in the country makes tremendous sense for all the company’s constituents,” York said. “We are quite familiar with a number of the businesses Brothers partnered with and have a strong appreciation for the platform the Brothers team and Trivest have built. With the formation of Pave America, we are going to be able to expand our service offering, geographic reach and, most importantly, better serve our customer base.”
“We are thrilled to bring our two platforms together in a way that enables us to offer broader services to our customers and additional opportunities for employee growth,” Garner added. “Pavement Partners and Shoreline have built a platform comprised of best-in-class companies that we competed against and respected across many markets. Bringing together so many respected leaders in the industry allows us to harness our collective experience to continue raising the bar for service across the industry.”
The transaction for Trivest was led by Russ Wilson, managing partner; Herby Raymond, vice president; Brandon Berish, senior associate and Rafael Tavares, senior associate. Admin agent Midcap Financial Trust’s transaction team was led by Director Tyler Wilson. MUFG Bank Ltd, WhiteHorse Capital Management LLC, Fidelity Direct Lending LLC, Apogem Capital LLC and LGT Capital Partners Ltd provided debt financing for the transaction. Citizens Capital Markets and Solomon Partners acted as co-lead financial advisors for Pavement Partners and Shoreline in the transaction.
