Pave America Expands in the Carolinas with Acquisition of Bennett Paving, Inc.

Pave America, LLC ("Pave America"), the nation's leading provider of paving and pavement maintenance services, has announced the acquisition of Bennett Paving, Inc. ("Bennett Paving"), a premier asphalt paving and pavement maintenance contractor serving the Greenville-Spartanburg and Hilton Head-Lowcountry regions of South Carolina.

Backed by AEA Investors, British Columbia Investment Management Corporation, company management, and other institutional shareholders, Pave America continues to expand its presence across the Southeast. The addition of Bennett Paving strengthens Pave America's presence across South Carolina, with operations serving both the rapidly growing Greenville-Spartanburg market and the state's coastal region, including Hilton Head and surrounding communities. The acquisition further enhances Pave America's ability to serve commercial, industrial, and municipal customers throughout the Southeast.

Founded in 1978, Bennett Paving has built a reputation for quality, reliability, and customer service across the state of South Carolina. The company provides a comprehensive suite of pavement maintenance and construction services, including asphalt milling and paving, sealcoating, crack filling, striping, and related services. Under the leadership of Jerry Porter and David Glenn, Bennett Paving has established itself as a trusted partner to commercial property owners, developers, and municipalities throughout the region.

Jerry Porter, president of Bennett Paving, said:

"For nearly five decades, Bennett Paving has been committed to delivering quality work and building lasting relationships with our customers, employees, and communities. We are proud of what we have built and excited to partner with Pave America as we enter the next chapter of our company's history. Their commitment to operational excellence and long-term growth makes them the right partner for our team and our customers."

David Glenn, president of Bennett Paving, added:

"Pave America brings additional resources, capabilities, and expertise that will allow us to continue growing while maintaining the culture and customer-focused approach that has defined Bennett Paving since 1978. We are excited about the opportunities this partnership creates for our employees and the customers we serve throughout the Carolinas."

Tom York, chief executive officer of Pave America, said:

"South Carolina continues to be one of the most attractive growth markets in the Southeast, and Bennett Paving has built a best-in-class reputation across multiple regions of the state. Their presence in both the Upstate and Lowcountry gives them a unique market position, and we are thrilled to welcome Jerry, David, and the entire Bennett team to the Pave America family."

John Strenkowski, chief operating officer of Pave America, added:

"Bennett Paving exemplifies the qualities we seek in a partner: operational excellence, a commitment to safety, strong customer relationships, and a talented team. Their balanced mix of maintenance and construction services provides a strong foundation for continued growth, and we look forward to supporting their success for years to come."

Brandon Blewett, chief development officer of Pave America, stated:

"Bennett Paving represents an outstanding strategic addition to our platform as we continue expanding throughout the Southeast. Jerry and David have built a market-leading business with an exceptional reputation across South Carolina. Their established presence in both the Greenville-Spartanburg region and the Lowcountry provides a strong foundation for continued growth, and we are excited to support the team as they continue serving customers across the state."

Pave America was advised by Eversheds Sutherland LLP as legal counsel and by Riveron Consulting LLC for financial and tax diligence.