M&A Deal Summary

Sunland Asphalt & Construction Acquires Ace Asphalt of Arizona

On January 14, 2021, Sunland Asphalt & Construction acquired construction company Ace Asphalt of Arizona from Prophet Equity

Acquisition Highlights
  • This is Sunland Asphalt & Construction’s 1st transaction in the Construction sector.
  • This is Sunland Asphalt & Construction’s 1st transaction in the United States.
  • This is Sunland Asphalt & Construction’s 1st transaction in Arizona.

M&A Deal Summary
Date 2021-01-14
Target Ace Asphalt of Arizona
Sector Construction
Buyer(s) Sunland Asphalt & Construction
Sellers(s) Prophet Equity
Deal Type Add-on Acquisition

Target

Ace Asphalt of Arizona

Phoenix, Arizona, United States
Ace Asphalt of Arizona, Inc. provides parking lot engineering, construction, and maintenance services to commercial, industrial, and institutional real estate owners and property managers. The Company’s services are provided through two operating departments: maintenance and engineering/construction. Ace Asphalt was established in 1966 and is based in Phoenix, Arizona.

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Buyer(S) 1

Buyer

Sunland Asphalt & Construction

Phoenix, Arizona, United States
Category Company
Founded 1979
Sector Construction
DESCRIPTION

Sunland Asphalt & Construction is an asphalt producer and paving solution provider. Sunland Asphalt & Construction was founded in 1979 and is based in Phoenix, Arizona.

DEAL STATS #
Overall 1 of 2
Sector (Construction) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Arizona) 1 of 1
Country (United States) 1 of 2
Year (2021) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-03 Metro Pavers

Henderson, Colorado, United States

Metro Pavers provides asphalt paving and maintenance, patching, seal coating, concrete, and other ancillary services for customers in the metro Denver region and surrounding area. Metro Pavers was formed in 1975 and is headquartered in Henderson, Colorado.

Buy -

Seller(S) 1

SELLER

Prophet Equity

Southlake, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prophet Equity is a private investment group focused on partnering with owners and management to acquire and build companies. The Firm targets the lower middle-market, and generally pursues businesses with significant value creation potential, such as those found in partnerships, corporate carve-outs, divestitures and non-strategic businesses of larger companies. Prospective companies typically have revenue up to $500 million and are valued between $10 and $250 million. Sectors of interest include automotive, transportation, consumer products, aerospace/defense, distribution, financial services, healthcare, manufacturing, technology, and natural resources. Prophet Equity was founded in 2007 and is based in Southlake, Texas.

DEAL STATS #
Overall 6 of 8
Sector (Construction) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (Arizona) 1 of 1
Country (United States) 6 of 8
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-18 Total Plastics Int l

Kalamazoo, Michigan, United States

Total Plastics, Int'l is a distributor and value-added service provider of plastic sheet, rod, tube, film, tape and gaskets. The Company supplies over 15,000 product SKUs on a just-in-time basis to diverse end-markets, including Automotive, Industrial and Commercial Machinery, Plastic Processing & Products, Furniture & Fixtures, and Marine and Life Sciences. Total Plastics, Int'l was established in 1978 and is based in Kalamazoo, Michigan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Coffman Stair Parts

Plano, Texas, United States

Coffman Stair Parts is a provider in the residential stair parts industry within the United States. Coffman Stair Parts is a one-stop-shop for residential, interior, and open stairway construction. Coffman Stair Parts was founded in 1874 and is based in Plano. Texas.

Sell -
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