Southern Paving & Milling acquires Carolina Site
Adds commercial paving and pavement maintenance operations across the Carolinas to the 5th Century Partners-backed platform's Southeast footprint.
Founded in 1996, Carolina Site adds asphalt paving, concrete, sitework, milling, striping, and maintenance services to the platform. Avante Capital Partners provided debt financing to support the transaction.
Craig Gannaway, president of Carolina Site, will join Southern Paving & Milling's executive leadership team as Co-President and remain a shareholder in the combined business, which has nearly 200 team members across Florida, Georgia, and the Carolinas. "We have experienced significant growth over the past year, and Carolina Site is an outstanding strategic fit for Southern Paving & Milling as we continue expanding throughout the Southeast," said Alex DeMarco, Co-President of Southern Paving & Milling.
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