M&A Deal Summary

Pave America Acquires Brothers National

On February 27, 2023, Pave America acquired construction company Brothers National from Lincoln Road Global Management and Trivest Partners

Acquisition Highlights
  • This is Pave America’s 4th transaction in the Construction sector.
  • This is Pave America’s 4th transaction in the United States.
  • This is Pave America’s 2nd transaction in Virginia.

M&A Deal Summary

Date 2023-02-27
Target Brothers National
Sector Construction
Buyer(s) Pave America
Sellers(s) Lincoln Road Global Management
Trivest Partners
Deal Type Merger

Target

Brothers National

Manassas, Virginia, United States
Brothers National is an operator of a premier asphalt, concrete and paving company. Brothers National was founded in 1985 and is based in Manassas, Virginia.

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Buyer(S) 1

Buyer

Pave America

Warrenton, Virginia, United States

Category Company
Sector Construction
DESCRIPTION

Pave America is a provider of asphalt and concrete solutions, including maintenance, repair, milling, sealcoating, and new paving services to commercial, municipal, and institutional customers as well as general contractors. Pave America is based in Warrenton, Virginia.


DEAL STATS #
Overall 4 of 6
Sector: Construction M&A 4 of 6
Type: Merger M&A Deals 1 of 1
State: Virginia M&A 2 of 2
Country: United States M&A 4 of 6
Year: 2023 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Turner Asphalt

Raleigh, North Carolina, United States

Turner Asphalt is a full-service paving company with a presence across the Southeast. Turner Asphalt performs new road construction, repairs, concrete paving, street marking, seal coating, grading, road maintenance, and much more. Turner Asphalt is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-03 Central States Paving and Concrete

Wisconsin, United States

Central States is a partnership of paving companies. It seeks to provide excellent customer service while providing a stable and growing environment for its base of committed employees. Central States Paving and Concrete is based in Wisconsin.

Buy -

Seller(S) 2

DESCRIPTION

Lincoln Road Global Management is a private investment firm focused on investing in companies generating sales of $20 to $150 million. The Firm pursues a variety of transaction types, including management buyouts, growth financings, divestitures, and recapitalizations. Sectors of interest include manufacturing, transportation, distribution, chemicals, paper and packaging, building products, consumer services, retail, food and beverage, packaged goods, restaurants, healthcare, and energy. Lincoln Road was founded in 2015 and is based in Miami, Florida.


DEAL STATS #
Overall 2 of 2
Sector: Construction M&A 1 of 1
Type: Merger M&A Deals 1 of 1
State: Virginia M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2023 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-07 Republic Fire Protection

Fort Myers, Florida, United States

Republic Fire Protection provides fire extinguishers, fire extinguisher inspection services, emergency lighting, fire sprinkler sales & service, & fire protection equipment to the Southeast. Republic Fire Protection is based in Fort Myers, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-07 Silversand Services

Houston, Texas, United States

Silversand Services is providing commercial landscaping in Texas for exterior, interior, and holiday decor. Silversand Services was founded in 1983 and is based in Houston, Texas.

Buy -
SELLER

Trivest Partners

Coral Gables, Florida, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 6.1B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Trivest's corporate headquarters in Coral Gables, Florida.
Trivest's corporate headquarters in Coral Gables, Florida.

Trivest is a private equity firm that invests in North American middle-market corporate acquisitions, recapitalizations, and growth capital financings. For platform investments, sectors of interest include niche manufacturing, value-added distribution, business services, and consumer products/services. The Firm seeks businesses with at least $4 million of EBITDA and valued between $20 and $250 million. Trivest prefers control-based situations but will also consider minority or co-investment opportunities. For add-on opportunities, Trivest will consider companies globally with valuations starting at $1 million. Trivest Partners was formed in 1981 and is based in Coral Gables, Florida.


DEAL STATS #
Overall 33 of 46
Sector: Construction M&A 1 of 3
Type: Merger M&A Deals 3 of 4
State: Virginia M&A 1 of 2
Country: United States M&A 30 of 42
Year: 2023 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-14 Total Sanitation Services

Woodstock, Ontario, Canada

Total Sanitation Services is a route-based provider of portable sanitation rental equipment and related services. The Total Sanitation Services family of brands currently serve the Ontario, Canada market through a network of 18 strategically located branches and over 13,000 rental units. Total Sanitation Services was founded in 2022 and is based in Woodstock, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-31 PeopleShare

Collegeville, Pennsylvania, United States

PeopleShare is a provider of temporary staffing and outsourced HR services in the Northeast United States. PeopleShare was founded in 2004 and is based in Collegeville, Pennsylvania.

Sell -