Construction Acquisitions in Virginia

Tecta America, the national commercial roofing leader, has acquired Skyline Roofing, a Rockingham, Virginia-based commercial roofing contractor founded in 2006. Skyline will operate as Skyline Roofing, a Tecta America company, with Kevin Weaver remaining as president and the existing leadership team and employees retained.

AEA Investors' Middle Market Private Equity team and British Columbia Investment Management Corporation (BCI) have acquired Pave America, a leading U.S. commercial paving maintenance services provider, from Trivest Partners and Shoreline Equity Partners. Trivest and Shoreline will retain minority stakes alongside management, and AEA/BCI said they will support accelerated growth both organically and via strategic acquisitions; terms were not disclosed.

Northeast Contracting Company (NECC) has acquired Ducks Roofing, a Portsmouth, Virginia-based commercial roofing contractor that serves healthcare, government, and commercial facilities. The deal is the first add-on for NECC’s high-performance roofing platform following an equity investment from RCap Equity Partners, and expands NECC’s presence in the Tidewater region while strengthening its healthcare-facing capabilities.

Right Traffic has acquired P.D. Brooks Traffic Control, a Mechanicsville, Virginia-based provider of full-service traffic control, barricading and traffic planning services. Right Traffic will integrate its Guardian SmartFlagger technology and begin training/deployment across P.D. Brooks' operations as part of the company's continued mid-Atlantic expansion; Marriott & Co. served as exclusive financial advisor to P.D. Brooks.

PAX Services Group, a New State Capital Partners portfolio company, has acquired Culbertson Company of Virginia, a commercial roofing, restoration and masonry contractor serving schools, hospitals and other institutional clients in the Mid‑Atlantic. The add‑on expands PAX’s building‑envelope capabilities and regional capacity; terms were not disclosed.

TriplePoint MEP has acquired Atlantic Constructors, Inc. (ACI), a Richmond, Virginia-based heavy mechanical and industrial services provider with extensive HVAC, fabrication and data center experience. The add-on expands TriplePoint's geographic footprint and fabrication capabilities, bringing ACI's reported 1,200+ employees and five regional locations into the TriplePoint platform.

Charlotte-based Eastwood Homes has acquired Napolitano Homes, a family-owned homebuilder based in the Hampton Roads, Virginia area. The deal expands Eastwood's presence into Hampton Roads and adds Napolitano's local operations and experience to Eastwood's Southeast homebuilding platform.

Sciens Building Solutions, a Carlyle-backed fire and life-safety platform, has acquired Lorton, Virginia-based Akers Fire Protection. The add-on expands Sciens' U.S. footprint into Virginia and augments its commercial fire sprinkler installation, retrofit and testing capabilities for commercial, government and industrial customers in the DC–VA–MD region.

Gainesville, Virginia-based Superior Paving Corp. has acquired Kickin' Asphalt Paving & Excavating, LLC of Strasburg, Virginia, expanding Superior's operations along the I-81 corridor and into West Virginia. The deal is Superior's second acquisition of 2024 and increases the company's regional capacity while providing continuity for Kickin' Asphalt's employees and customers.

Infinity Home Services, a portfolio company of private equity firm Freeman Spogli & Co., has acquired Exterior Medics, a Washington D.C.‑area home‑exterior remodeling services provider. The add‑on transaction (closed October 4, 2024) expands IHS's footprint and service capabilities in the D.C. metro market; Founders Advisors acted as sell‑side advisor to Exterior Medics' co‑owners.

RCap Equity Partners led a majority recapitalization of Northeast Contracting Corp. (NECC) in partnership with Monroe Capital LLC and existing shareholders. NECC, a Lorton, Virginia–based full-service commercial roofing company serving education, government, multi-family and industrial end markets across the Mid-Atlantic, will use the partnership capital to invest in its team, expand service offerings and pursue strategic acquisitions.

Huron Capital’s portfolio company 1-800 Hansons has acquired Paramount Builders, a Virginia Beach-based residential repair and renovation provider. The acquisition expands the Hansons platform into the Mid-Atlantic and Southeastern U.S., increasing its branch footprint and bolstering its exterior and interior renovation capabilities.

Rose Paving, a Chicago-area pavement services provider backed by Tenex Capital Management, has acquired Northern Virginia and Maryland Paving and Concrete (NVM), a multi-state pavement maintenance company headquartered in Fairfax, Virginia. The deal expands Rose Paving’s Mid-Atlantic and Southeast footprint; NVM’s management team will remain in place following the transaction.

Boyne Capital has partnered with management to acquire Ryan Construction Co., Inc. and Ryan Marine, Inc., a Suffolk, Virginia–based provider of marine and industrial contracting and maintenance services. The investment—the latest platform for Boyne’s BCM Fund II—will support the company’s next phase of growth by strengthening corporate infrastructure and expanding market share across the Mid-Atlantic, particularly in defense, logistics and utilities end markets.

Pavement Partners Holding, LLC and Brothers National, LLC have merged to form Pave America, a nationwide pavement services platform. The combined company will be primarily controlled by Shoreline Equity Partners and Trivest Partners, with Lincoln Road Global Management retaining a minority stake and board representation; Tom York will serve as CEO and Paul Garner as President.

Funds managed by KKR have made a significant growth capital investment in Groundworks, a Virginia Beach–headquartered residential foundation and water management services platform. Cortec Group will remain a shareholder and board member; the capital will support Groundworks' continued geographic expansion, service offering growth and add-on M&A.

Tecta America Corporation, the national commercial roofing platform, has acquired Katchmark Construction, a roofing and exterior contractor operating in the Washington, D.C. metro area with locations in Chantilly and Chesapeake, Virginia. Katchmark's existing management and workforce will remain in place as the business becomes Katchmark Construction, a Tecta America Company, expanding Tecta's presence in the Mid-Atlantic.

Posillico Civil, a family-owned civil construction firm based in New York, has acquired Martins Construction Corp., a heavy highway and bridge construction company based in Falls Church, Virginia. The deal expands Posillico's Mid-Atlantic presence and preserves Martins' leadership and workforce as the Martins founders retire.

Pavement Partners Holding, LLC, a pavement services platform formed via Shoreline Equity Partners' recapitalization of Finley Asphalt & Concrete, has acquired Dominion Paving & Sealing, a Purcellville, Virginia-based asphalt and concrete services provider. The deal is Pavement Partners' first add-on following the platform formation and is intended to expand the platform's market share and service footprint across the Washington D.C. metro and surrounding Mid-Atlantic markets.

Shoreline Equity Partners formed Pavement Partners Holding, LLC and recapitalized Finley Asphalt & Concrete to create a platform for acquiring pavement repair and maintenance providers across the U.S. Finley’s founders (Erick and Lewis Finley) remain in leadership and co-investors including Harvey & Company joined the transaction; senior debt was provided by M&T Bank and South State Bank.

Atlas Holdings has completed the sale of portfolio company Banker Steel to DBM Global Inc., an operating subsidiary of HC2 Holdings, Inc. Banker Steel, a Lynchburg, Virginia-based structural steel fabricator and erector, expands DBM Global/HC2's east‑coast fabrication footprint and construction service capabilities. Atlas invested in Banker Steel in 2014 and grew the business through organic expansion and seven bolt-on acquisitions prior to the sale.

An affiliate of Boyne Capital, alongside Grindstone Partners and company management, partnered to recapitalize SageWater, a Alexandria, Virginia–based provider of plumbing infrastructure replacement and repiping services for multi-family residential and condominium buildings. The investment will support SageWater's growth, broaden its service capabilities, and expand its geographic footprint; the company has repiped over 100,000 occupied multi-family units and replaced more than 35 million feet of pipe since 1988.

Cortec Group, through its affiliate Cortec Fund VII, completed a growth recapitalization of Groundworks, partnering with founder Matt Malone and the company’s management team to support accelerated organic growth and acquisitive expansion. Groundworks, a Virginia Beach–based vertically integrated foundation services platform operating under multiple local brands across 22 states, will use the capital to continue consolidating the foundation services industry.

Elkay Interior Systems (a business of Elkay Manufacturing) acquired Washington DC–area hotel renovation specialist Digney York Associates in December 2019 to expand its turnkey hospitality interior renovation and guest-room refurbishment capabilities. The sale marked an exit for investor Merit Capital Partners, which had backed Digney since 2007.

Century Engineering, Inc. acquired NXL Construction Services, Inc., a Virginia-based construction management, inspection, and surveying firm. The deal expands Century's presence in Virginia (adding Richmond and Christiansburg offices) and preserves existing NXL contracts and staff.

GHK Capital Partners completed a recapitalization of Brown & Settle, Inc., forming a new holding company to support growth and expanded capabilities. Breakwater Management LP and funds advised by Headway Capital Partners LLP provided preferred equity and Breakwater provided the debt facility; founders Michael Brown, Jr. and Gregory "Tommy" Settle retain roughly one-third of the business and will continue to lead operations.