Completes Acquisition of DH Striping and Lynne Services to Create Pavement Maintenance Platform in the Southeastern U.S.
Miami – December 22, 2020 – Lincoln Road Global Management, LLC (“Lincoln Road”), a private equity firm focused on lower middle-market companies, today announced that it has partnered with Trivest Partners to complete an investment in Landmark Paving (the “Company”), a full-service pavement maintenance business serving customers across the Southeastern United States. Landmark Paving was formed through the acquisition of DH Striping and Lynne Services, market-leading providers of contract paving, parking lot striping and other related maintenance services.
Headquartered in Oviedo, Florida, Landmark Paving will continue to be led by President Joe Campolong. The Company is a full-service provider of pavement maintenance, thermoplastic markings, seal coating, asphalt and concrete patching, restriping, signage, hydro-blasting and related services to retail, property management, real estate development and other commercial customers.
“Joe and his team have built a best-in-class company, and have established true partnerships with a growing base of clients,” commented Jeff Magny, Founder and Managing Partner of Lincoln Road “Landmark Paving places its clients first and that focus will continue to be the key to Landmark’s success. We believe there are numerous market opportunities, both in new geographies and new ancillary services, and we look forward to supporting Landmark Paving in continuing to set new standards of excellence in the parking lot services business.”
“We are thrilled to partner with Lincoln Road and Trivest” added President Joe Campolong. “Their collective experience and knowledge of our industry will provide us with the financial, operating and strategic resources to enhance our core mission of serving as a trusted, long-term partner to our clients. We share a common vision for building on Landmark’s core capabilities and commitment to quality to drive the next phase of our growth. The Company is well positioned, as an essential services provider, to benefit from the rapidly developing infrastructure landscape in the Southeast.”
The formation of Landmark Paving reflects Lincoln Road’s active investment pace, completing its fifth deal in the last 18 months. Combined with its proven proprietary deal sourcing, and ability to form partnerships with experienced management teams of lower middle market businesses, Lincoln Road unlocks significant value and positions all stakeholders for long term growth. In August, Lincoln Road partnered with Fire Equipment Company of Florida, a business that sells, inspects and services fire extinguishers and fire suppression systems, and was added to the firm’s portfolio company, Republic Fire Protection, Inc. Looking forward to 2021, Lincoln Road expects to close on several new platforms and add-ons within its robust acquisition pipeline.
Holland & Knight LLP acted as legal advisor to Lincoln Road for the investment.
About Lincoln Road Global Management
Lincoln Road Global Management is a private equity firm that invests in leading lower middle market business services, specialty manufacturing and value-added distribution companies. Lincoln Road has deep operational experience, emphasizes collaboration and works closely with management teams. Together we are able to help companies unlock their next phase of growth. Please visit www.lincolnroadmgmt.com for more information.
Trivest Partners LP, with offices in Miami, Los Angeles, Philadelphia, Chicago, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led and family-owned businesses in the United States and Canada in both control and non-control transactions. Since its founding in 1981, Trivest has completed more than 350 transactions, totaling approximately $7 billion in value. To learn more, visit www.trivest.com.
Press Contact for Lincoln Road:
Kelly Holman Stanton