PAX Services Group Acquires Consolidated Coatings

PAX Services Group Acquires Culbertson Company of Virginia

April 29, 2025

Construction

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.

PAX Services Group (New State Capital-backed) Acquires Cram Roofing

February 1, 2024

Construction

PAX Services Group, a New State Capital Partners-backed exterior services platform, has acquired San Antonio-based Cram Roofing. The deal expands PAX's footprint in Texas and broadens its institutional roofing and exterior services capabilities; senior management of Cram will remain with the company. Terms were not disclosed.

PAX Services Group Acquires Hi-Tech Roofing & Sheet Metal

March 27, 2025

Construction

PAX Services Group, a portfolio company of New State Capital Partners, has acquired South Florida–based Hi-Tech Roofing & Sheet Metal. The acquisition expands PAX's presence in Florida and adds Hi-Tech's commercial, industrial, and institutional roofing and sheet metal capabilities to PAX's building envelope platform; Hi-Tech's management, including owner Mike Daley, will remain with the business.

New State Capital Partners Acquires Majority Stake in Patuxent Roofing & Contracting

April 26, 2022

Construction

New State Capital Partners acquired a majority stake in Patuxent Roofing & Contracting, a Laurel, Maryland-based provider of re-roofing, waterproofing, and related building envelope services to institutional and commercial customers. Patuxent CEO and current owner Mike Gowl will remain with the company and retain a significant equity stake; New State said it will support growth through organic initiatives and targeted acquisitions to expand geography and complementary services.

PAX Health Acquires Harris Psychiatric Services

January 27, 2025

Healthcare Services

PAX Health, backed by HCAP Partners and Hamilton Lane, has acquired Harris Psychiatric Services, an outpatient psychiatric practice specializing in care for patients recovering from workplace injuries and motor vehicle accidents. The add-on expands PAX Health’s trauma-related behavioral health and chronic pain management capabilities and aims to improve access and referral pathways for injured workers and accident survivors.

Painters Supply & Equipment Co. Acquires Interbay Coatings, Inc.

December 18, 2023

Industrial Services

Painters Supply & Equipment Co. (PSE), a Michigan-based paint and coatings distributor, has acquired Interbay Coatings, Inc., a specialty coatings distributor headquartered in Tampa, Florida. The acquisition expands PSE's specialty coatings capabilities and adds a regional presence in the heavy marine and industrial coatings end-markets.