Pavement Preservation Group, a portfolio company of The Sterling Group, announces the acquisition of Asphalt Paving Systems. Pavement Preservation Group, Inc. ("PPG"), a portfolio company of The Sterling Group ("Sterling"), today announced the acquisition of Asphalt Paving Systems, Inc. and its related pavement preservation affiliates (collectively "APS"), a leading vertically integrated pavement preservation contractor and manufacturer of asphalt and emulsion products. PPG provides specialized pavement preservation products and services that help extend the useful life of asphalt infrastructure through cost-effective solutions. The addition of APS marks PPG's fifth acquisition since the platform was formed in partnership with Sterling in 2024 and represents a transformational step forward in PPG's journey towards building a leading national pavement preservation platform. Founded in 1985 and headquartered in Hammonton, New Jersey, APS is a pavement preservation contractor serving state, county, and municipal customers across the Eastern and Southeastern United States. The company provides a range of services, including microsurfacing, chip seal, paving, and related solutions, and manufactures asphalt and emulsion products. "Joining PPG achieves our vision of positioning APS with a national platform in the pavement preservation space," said Bob Capoferri, Founder and CEO of APS, and Ken Messina, President of APS. "We are proud of what our team has accomplished over the last four decades and are excited about our future with PPG. Together, we intend to continue delivering top-notch pavement preservation solutions to our existing customers, while bringing that same high-quality level of service to new markets." "APS is a highly-respected provider in the pavement preservation industry with an exceptional track record of growth, operational excellence, and customer service," said Darin Matson, CEO of PPG. "We are excited to partner with the APS team as we continue building a leading national pavement preservation platform comprised of operationally excellent companies." Sterling has a long history of partnering with entrepreneurs and management teams to build market-leading businesses. Through continued organic growth and disciplined acquisitions, Sterling and PPG intend to further scale the platform, deliver even greater value to customers, and strengthen PPG's position as a leading national provider of pavement preservation solutions with strong local execution capabilities. About The Sterling Group Founded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 78 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has approximately $9.0 billion of assets under management. For further information, please visit www.sterling-group.com. Past performance is no guarantee of future results and all investments are subject to loss. Forward-looking statements reflect current intentions only and are subject to change without notice. No assurance can be given that the objectives or results described herein will be achieved. Press releases and articles published prior to November 4, 2022 are being provided for informational purposes only and are not intended as advertising.

/PRNewswire/ -- Pavement Preservation Group, Inc. ("PPG"), a portfolio company of The Sterling Group ("Sterling"), today announced the acquisition of Asphalt...