Huron Capital’s Platform Sunland Asphalt Acquires Georgia Paving

Leading middle-market private equity firm Huron Capital (“Huron”) announced today that its portfolio company, Sunland Asphalt (“Sunland” or the “Company”), has acquired Georgia Paving, LLC (“Georgia Paving”). Headquartered in the greater Atlanta area, Georgia Paving began operations in 1996 and has established itself as one of the premier asphalt maintenance and paving companies in the region. Georgia Paving 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,” said Bryan Kalbfleisch, CEO of Sunland. “Georgia Paving has developed a strong brand presence in Georgia through its history of exceptional service, safety, and quality of work that offers strong alignment with Sunland’s capabilities and reputation.”

Race to Resurface F1 Track

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 highly attractive, 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,” said Georgia Paving Owner, Eddie Livingston. “Sunland’s customer-centric culture aligns perfectly with our values. 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.”

“Sunland’s partnership with Georgia Paving is a key milestone for Sunland’s growth with our expansion into the Southeast geography,” said Jim Mahoney, Managing Partner at Huron. Cale Kaczmarek, Principal at Huron, continued, “We are thrilled to partner with Eddie and the rest of the Georgia Paving team for future growth and to assist in building on their legacy as a premier provider of asphalt paving and maintenance services.”

Honigman LLP served as legal advisor and Moss Adams LLP served as financial diligence advisor to Sunland and Huron