Citizens Capital Markets & Advisory served as a financial advisor to Pave America, a leading provider of commercial paving maintenance services, on its agreement to be acquired by AEA Investors and British Columbia Investment Management Corporation. Pave America was previously a portfolio company of Trivest Partners and Shoreline Equity Partners.

Headquartered in Virginia, Pave America is a provider of asphalt and concrete solutions, including maintenance, repair, milling, striping and sealcoating services. With a large self-perform employee base and outsourced vendor network, Pave America has grown to become the largest maintenance-focused pavement services provider in the U.S. The company’s strong track record of organic growth and robust acquisition capabilities has established it as the acquiror of choice in a fragmented market.

“The Citizens team has been a trusted partner to Pave America for many years, providing strategic guidance across multiple transactions and growth initiatives,” said Tom York, CEO of Pave America. “Their deep expertise and unwavering commitment to achieving the best outcome for Pave America have been instrumental in helping us achieve our long-term goals. We are grateful for their continued partnership and look forward to building on our success.”

“We thank Citizens for their steadfast support and thoughtful guidance throughout our partnership with Pave America. Their commitment to excellence was integral to a successful outcome, and we look forward to the next phase of growth,” said Russ Wilson, Managing Partner at Trivest.

Mike Hand, Co-Founder and Managing Partner at Shoreline Equity Partners, added: “We’ve had the privilege of working closely with Citizens across this transaction and many others that have helped Pave America grow into an industry leader. Their expertise and commitment to excellence have added tremendous value throughout our partnership.”

Jason Wallace, Head of M&A Advisory at Citizens, said: “We’ve had the opportunity to collaborate with Trivest, Shoreline and Pave America across multiple strategic initiatives, including this milestone transaction. This acquisition is a testament to the strength of the business and the value created through partnership. We look forward to following their continued success.”