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Huron Capital’s Platform Sunland Asphalt Acquires Metro Pavers, Inc.
Acquisition Strengthens Sunland Asphalt’s Presence in Colorado’s Growing Market
Detroit – [November 25th, 2024] – Leading middle-market private equity firm Huron Capital (“Huron”) announced today that its portfolio company, Sunland Asphalt (“Sunland”), has acquired Metro Pavers, Inc. (“Metro Pavers” or “MPI”). Headquartered in the greater Denver area, Metro Pavers began operations in 1975 and has established itself as one of the premier asphalt maintenance and paving companies in the region. MPI provides asphalt paving and maintenance, patching, seal coating, concrete, and other ancillary services for customers in the metro-Denver region and surrounding area.
“Sunland is excited to partner with the Metro Pavers team to continue our growth as a super-regional provider of asphalt paving and maintenance services,” said Matt Johnson, CEO of Sunland. “Metro Pavers has developed a strong brand presence in Colorado through its history of exceptional customer service, consistent quality work, and long-standing workforce”
Metro Pavers represents Sunland’s fourth acquisition following the foundational investment in Sunland in 2021. The acquisition of Metro Pavers builds on the platform’s presence in Colorado. The Sunland platform operates across five states throughout the Southwest and Southeast regions of the United States.
“Sunland is a well-respected name in the industry, and we are excited to be joining forces with them,” said Owner, Mikey Sasina. “We believe this partnership will strengthen our company’s efficiency and effectiveness with additional resources, while keeping our customer service at the forefront. The combination will bring positive changes for our customers, employees, vendors, and everyone involved.”
“Sunland’s newest partnership with Metro Pavers strengthens our position in the Colorado market while leveraging MPI’s leading position to drive expansion across key end markets,” said Jim Mahoney, Managing Partner at Huron. Cale Kaczmarek, Principal at Huron, continued, “We are thrilled to partner with Mikey and the rest of the Metro Pavers team and are excited to continue building on the Metro and Sunland legacies in the Colorado market.”
Honigman LLP served as legal advisor and Moss Adams LLP served as financial diligence advisor to Sunland and Huron.
About Huron Capital
Huron Capital is a leading lower middle-market private equity firm focused on partnering with outstanding management teams to build leading service companies. Through HCP Services, we bring a people-first and thematic approach to investing in mission-critical service companies in the infrastructure, facility and residential sectors where we have a long history of success, proven playbooks and extensive resources. We seek to make control investments in leading service businesses with $20 million to $200 million in revenue.
With our operational resources, we empower our management partners to drive significant growth through initiatives such as professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets. We pride ourselves on an unwavering commitment to candor, trust, accountability, and transparency in our relationships with management teams, investors, advisors, and employees.
Founded in Detroit in 1999, over the past 25 years we have acquired more than 275 companies through seven investment funds, managing over $2 billion in capital on behalf of a global institutional investor base. Through our proprietary ExecFactor® program, we utilize a proactive, thesis-driven investment process to identify the best potential management teams and investment opportunities in our core sectors. For more information, please visit www.huroncapital.com.
About Sunland Asphalt
Since 1979, Sunland Asphalt has been a provider of asphalt paving and maintenance services with offices in Arizona, Colorado, Nevada, New Mexico, and Georgia. The company offers an array of services including asphalt repairs, crack sealing, sealcoating, chip seal, milling, pulverizing, reconstruction, paving, striping, and other ancillary services. The company serves both public and private customers. For more information, please visit www.sunlandasphalt.com.
Contact
Jonathan Marino
Prosek Partners
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