Huron Capital in Detroit, a middle-market private equity firm, has announced its portfolio company, Sunland Asphalt, has acquired Georgia Paving in the greater Atlanta area. Terms of the deal were not disclosed.
Georgia Paving, which began operations in 1996, provides asphalt paving and maintenance, striping, seal coating, concrete, and other ancillary services for customers in the metro-Atlanta area and surrounding region.
“Sunland is excited to partner with the Georgia Paving team to continue our growth as a super-regional provider of asphalt paving and maintenance services throughout the broader U.S. sunbelt,” says Bryan Kalbfleisch, CEO of Sunland.
Georgia Paving represents Sunland’s third acquisition following the foundational investment in Sunland in 2021. The acquisition of Georgia Paving expands the platform’s presence into a new geography.
Following the acquisition, the Sunland platform now operates across five states throughout the Southwest and Southeast regions of the United States.
“Sunland is a recognized and respected leader in the asphalt paving industry,” says Eddie Livingston, owner of Georgia Paving. “Joining forces with Sunland means that we can learn from best practices, benefit from being a part of a larger organization, and serve as a platform for additional growth in the Southeast region.”
Honigman in Detroit served as legal advisor, and Moss Adams served as financial diligence advisor to Sunland and Huron.
“Sunland’s partnership with Georgia Paving is a key milestone for Sunland’s growth with our expansion into the Southeast geography,” says Jim Mahoney, managing partner at Huron Capital.
Founded in Detroit in 1999, Huron Capital has acquired more than 275 companies through seven investment funds, managing $2 billion-plus in capital on behalf of a global institutional investor base.
Since 1979, Sunland Asphalt has provided 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, visit huroncapital.com/.
