Sunland Asphalt Acquires Metro Pavers to Strengthen Colorado Market Presence
Deal News | Nov 25, 2024 | Huron Capital Partners LLC
Huron Capital, a prominent middle-market private equity firm, has announced the acquisition of Metro Pavers, Inc. by its portfolio company, Sunland Asphalt. This acquisition serves to enhance Sunland's foothold in the Colorado market and strengthen its position as a super-regional provider of asphalt paving and maintenance services. Metro Pavers, a well-regarded asphalt maintenance company based in the Denver area, is renowned for its excellent customer service and quality work. With this acquisition, Sunland marks its fourth strategic expansion following the foundational investment made in 2021. Legal and financial diligence was conducted by Honigman LLP and Moss Adams LLP respectively. Huron Capital focuses on investing in mission-critical service companies, and with Sunland, it aims to drive growth through professionalizing operations and expanding market reach.
Sectors
- Private Equity
- Asphalt & Concrete Services
- Infrastructure
Geography
- United States – Huron Capital, Sunland Asphalt, and Metro Pavers are based in the U.S.
- Colorado – The acquisition strengthens Sunland Asphalt's presence in the Colorado market where Metro Pavers is based.
- Detroit – Huron Capital is headquartered in Detroit, Michigan.
Industry
- Private Equity – Huron Capital is a private equity firm making the investment in Sunland Asphalt as part of its portfolio.
- Asphalt & Concrete Services – Sunland Asphalt and Metro Pavers are both involved in providing asphalt paving and maintenance services.
- Infrastructure – The acquisition focuses on infrastructure services related to asphalt maintenance and paving.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Huron Capital Partners LLC | Buyer | Company | A leading lower middle-market private equity firm focused on partnering with management teams to build leading service companies. |
| Sunland Asphalt | Acquirer | Company | A provider of asphalt paving and maintenance services across multiple states, including Arizona, Colorado, Nevada, New Mexico, and Georgia. |
| Metro Pavers, Inc. | Target | Company | A premier asphalt maintenance and paving company in the Denver area. |
| Honigman LLP | Legal Advisor | Company | Provided legal advisory services to Sunland and Huron. |
| Moss Adams LLP | Financial Diligence Advisor | Company | Handled financial diligence advisory services to Sunland and Huron. |