AEA Investors Middle Market Private Equity team and British Columbia Investment Management Corporation have acquired Pave America, LLC from Trivest Partners and Shoreline Equity Partners, who will retain a minority stake. Pave America, headquartered in Virginia, is the largest U.S. commercial paving maintenance services provider. The acquisition aims to accelerate growth through organic means and strategic acquisitions. Financial terms were not disclosed.

WARRENTON, Va.--(BUSINESS WIRE)--Pave America, LLC (“Pave America”), a portfolio company of Trivest Partners (“Trivest”) and Shoreline Equity Partners (“Shoreline”) has partnered with Magnum Paving (“Magnum”), a leading provider of pavement services to commercial and municipal customers. Headquartered in Villa Rica, GA, Magnum is one of the premier pavement service providers across the greater Atlanta area. The partnership with Magnum strengthens Pave America’s presence in Atlanta as the company continues to look to partner with leading companies across the US. The President of Magnum, Tyler Dickinson, will maintain an active leadership role in the business going forward. Tyler Dickinson, President of Magnum Paving, said, “It was important for me to partner with a company that has the resources to help accelerate our growth. Although Pave America is a large company, they operate with small company values

Grove Mountain Partners has sold Central States Paving and Concrete to Pave America, a portfolio company of Shoreline Equity Partners and Trivest Partners. Grove Mountain will maintain an equity interest in the business in partnership with Shoreline and Trivest.