Warrenton, Virginia – October 10, 2023 – Pave America, LLC (“Pave America”) has partnered with Kansas Asphalt (“Kansas”), a leading provider of asphalt & concrete paving, maintenance & repair, and reconstruction services. Headquartered in Bucyrus, KS, Kansas Asphalt is one of the premier pavement service providers across the U.S. through an extensive subcontractor network as well as self-performing locations in Kansas, California, Texas, Ohio, and Iowa. Chuck Jeffries, CEO, and the rest of the management team will continue running Kansas Asphalt and will be instrumental in growing operations across the current and contiguous markets that the company serves.
Chuck Jeffries, CEO of Kansas Asphalt, said, “As we contemplated the next stage of growth, we wanted to find a group that not only knows the pavement industry, but would also value our team the same way we have. From our first discussion, it became very evident that Pave America was the right partner for our team as they continue assimilating industry leading companies and CEOs across the country. We are unbelievably excited to be a part of the broader strategy and look forward to leveraging their capabilities to expand Kansas Asphalt.”
Tom York, CEO of Pave America, said, “Chuck and Jane’s team have a stellar reputation for delivering exceptional service that’s respected and recognized across the industry. The company has continued to take market share and delivers high quality services across a diversified customer base. As we continue exploring opportunities to expand nationally, Kansas Asphalt was a perfect fit for the platorm we are building at Pave America.”
Paul Garner, President of Pave America, said, “The team at Kansas Asphalt has built an incredible business with a strong reputation for quality and service. We are very much looking forward to working with Chuck, Jane, and the rest of the Kansas team to embark on an aggressive growth path over the coming years.”
About Pave America
Pave America is a leading provider of asphalt and concrete solutions including maintenance, repair, milling, striping, and sealcoating services. With ~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.
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. With over $750 million of committed capital under management, Shoreline seeks to lead equity investments of up to $150 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $50 million to $350 million and EBITDA of $5 million to $25 million. 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 ensure 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.
