June 21, 2024 – Pave America, LLC (Pave America) is pleased to announce its partner company and Raleigh-based Turner Asphalt LLC (Turner) recently acquired Harpeth River Asphalt LLC (Harpeth River). The combined organization will be managed by Turner’s President, Wayne Turner. Harpeth River’s owner, Stephan Garrett, will stay with the organization and serve as the President of Turner’s Nashville location. The collaboration marks Pave America’s initial entry into the Nashville area and strengthens the platform’s commanding presence across the southeastern US. Independently, Harpeth River and Turner expected to grow on target with Nashville’s current growth trends. The combination now makes that vision a near-term reality.
Paul Garner, President of Pave America, said “Stephan is an outstanding example of Pave America’s core values. He built and expanded an incredible business. We are so excited that he will help lead our endeavors in a market that generates so much excitement thanks to its continued and steady growth.”
Wayne Turner, President of Turner Asphalt, said “We are so grateful at how we’ve been able to expand our footprint beyond Raleigh thanks to our Pave America partnership. I’m very excited that we will now have a permanent presence in Nashville to meet the market’s demands. Stephan will be an incredible asset for Turner and Pave America. This acquisition shows our combined commitment to being the preeminent asphalt service provider across the entire southeast.”
About Pave America
Pave America is a leading provider of asphalt and concrete solutions including maintenance, repair, milling, striping, and sealcoating services. With over 35 partner companies and OVER 2,000 employees, Pave America has nationwide coverage through an extensive self-perform and outsourced vendor model. The Company primarily serves commercial, industrial, HOA, utility, and municipal customers throughout the U.S.
About Shoreline Equity Partners
Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a “win-win” proposition for shareholders, employees, customers, vendors, and the communities within which the Firm’s companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. The Firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others. For more information, please visit www.shorelineequitypartners.com.
About Trivest Partners
Founded in 1981, Trivest Partners is one of the oldest private investment firms in the United States. For over four decades, Trivest has built its entire business model around helping founder-owned businesses transition and realize a long-term future as successful independent companies. Over its history, the firm has invested in nearly 500 companies with a total value of almost $8BN. To learn more, visit www.trivest.com.
