MIAMI--(BUSINESS WIRE)--Lincoln Road Global Management, LLC ("Lincoln Road"), a private equity firm focused on lower middle market companies, today announced that it has successfully realized its investment in Brothers National LLC, a premier asphalt, concrete and paving company.
Brothers National, a Manassas, Virginia-based portfolio company of Lincoln Road and Trivest Partners, is merging with Pavement Partners. Financial terms were not disclosed. The combined company will carry the new name Pave America. Lincoln Road will retain minority equity ownership going forward as well as board representation in Pave America.
“We have enjoyed a strong relationship with the Brothers organization and want to thank their management team for supporting an ambitious plan to expand from Virginia into the Sunbelt and Mid-Atlantic States over the last two years,” said Jeff Magny, Founder and Managing Partner of Lincoln Road. “This transaction is emblematic of our approach of collaborating closely with founder-owned companies, accelerating growth, adding customers and positioning them for sustained success. We deeply value our partnership with Trivest, who share a similar approach to building businesses.”
The first investment Lincoln Road and Trivest made was in December 2020. The firms completed 13 add-on acquisitions to expand its geographic reach and better serve customers.
About Lincoln Road
Lincoln Road is a private equity firm making control investments in lower middle market buy-and-build opportunities in North America. Lincoln Road targets founder- and family-owned businesses providing essential services and producing essential goods in fragmented industries where it believes there are an abundance of untapped growth opportunities that would benefit from operational intervention coupled with an acquisition strategy. Please visit www.lincolnroadmgmt.com for more information.
Founded in 1981, Trivest Partners is one of the oldest private investment firms in the United States. For over four decades, Trivest has built its entire business model around helping founder-owned businesses transition and realize a long-term future as successful independent companies. Over its history, the firm has invested in nearly 500 companies with total value of almost $8.0 billion. To learn more, visit www.trivest.com.