O2 Investment Partners Invests In Atlas Asphalt

A second-generation family paving business on Long Island has secured a growth investment from private equity firm O2 Investment Partners, setting the stage for a buy-and-build push into the highly fragmented asphalt maintenance sector.

Atlas Asphalt, founded in 1988 and based in Islandia, New York, was taken over by brothers Tyler and Jordan Cianciulli in 2018.

The company provides a full suite of commercial and residential paving services, including asphalt and concrete paving, sealcoating, crack filling, line striping, parking signage, drainage repair, and maintenance programs.

Largely self-performing its work, the business serves clients across more than 20 states, primarily throughout the Northeast and coastal regions, and has built a reputation for speed, dependability, and job quality.

O2 Investment Partners, a Midwestern private equity firm, focuses on lower B2B services, technology, and select industrial companies, typically taking majority positions.

The firm views Atlas as a dominant regional player in a highly fragmented industry with a clear path to continued expansion.

Protegrity Advisors acted as financial advisor to Atlas Asphalt.

Tree Line Capital Partners provided the financing for the transaction.

The partnership intends to create a broader paving platform by extending its reach in current markets and capturing underserved client segments.

Tyler Cianciulli, managing director of Atlas, said O2’s resources and expertise would enable the company to drive both organic and acquisition-led growth across adjacent geographies and end markets.