Neptune Beach, Florida – October 14, 2025 – Shoreline Equity Partners (“Shoreline”), a purpose-driven lower middle market private equity firm based in Neptune Beach, Florida, is pleased to announce the partial realization of Pave America, LLC (“Pave America” or the “Company”), a national provider of paving maintenance services, to AEA Investors (“AEA”) and British Columbia Investment Management Corporation (“BCI”), as previously announced here.  Pave America was formed through the merger of Pavement Partners and Brothers National which were owned by Shoreline and Trivest Partners LP (“Trivest”), respectively.  Shoreline and Trivest will retain a minority stake in the business, alongside Company management.

Headquartered in Virginia, Pave America has grown into one of the most widely scaled providers of commercial paving and maintenance services in the U.S.  With 27 branches and self-perform capabilities in 43 states, the Company offers a full suite of maintenance and new construction services to local and national customers.  Powered by its proprietary PavementSoft technology platform, which supports everything from lead tracking to invoicing, Pave America operates with uniform service protocols across multiple geographies, making the Company a trusted partner to a range of national and regional customers.

“This marks the beginning of an exciting new chapter for Pave America,” said Tom York, CEO of Pave America.  “AEA has a strong history of partnering with branch-based services businesses to successfully scale for the long run, and they and BCI bring expertise and resources that will be instrumental as we seek to accelerate our growth both organically and through strategic acquisitions.  We are grateful to Shoreline and Trivest for their support in establishing such a strong foundation for our business, and we look forward to building on that progress together with AEA and BCI, continuing to deliver the highest quality commercial paving solutions to new and existing clients nationwide.”

“The Pave America team has built a standout business rooted in a culture of operational excellence and employee ownership, which continues to attract top-tier branch operators across the country,” said Alex Mehfar, Partner on the AEA Middle Market Private Equity team.  “In a highly fragmented market with significant runway, Pave America has consistently demonstrated its ability to deliver an unparalleled quality of work while continuing to strengthen and scale its differentiated platform.  Leveraging its purpose-built PavementSoft software, the Company has seamlessly integrated across locations and consistently delivers superior employee and customer experience.  We’re excited to support the team as they build on this momentum and pursue new opportunities for growth moving ahead.”

“Pave America has created an unrivaled platform in commercial paving, combining national scale, purpose-built technology, and comprehensive self-perform capabilities to deliver superior service quality, ” said Aaron Papps, Senior Managing Director, Private Equity, BCI.  “Our investment alongside AEA reflects our shared conviction in the Company’s growth trajectory and operational leadership, which distinguish Pave America in the marketplace.  We look forward to supporting the Company’s management team as they continue executing and accelerating their proven expansion strategy.”

“We have been so proud to support the creation of the leading national platform in commercial paving services,” said Mike Hand, Managing Partner at Shoreline, and Russ Wilson, Managing Partner at Trivest.  “The Company’s rapid growth, strong culture, and successful integration of experienced and high-performing  operators have the business well-positioned within the national commercial paving market.  We are excited to continue our partnership as minority investors alongside AEA and BCI as Pave America enters its next phase of expansion.”

William Blair and Citizens represented Pave America and acted as the Company’s financial advisors for the transaction, while Finn Dixon & Herling LLP served as legal counsel to Shoreline, Trivest and the Company.

About Pave America

Pave America is a leading provider of asphalt and concrete solutions including maintenance, repair, milling, striping, and sealcoating services.  With 1600+ employees, Pave America has nationwide coverage through an extensive self-perform and outsourced vendor model.  The Company primarily serves commercial, industrial, HOA, utility, and municipal customers.  To learn more, visit www.paveamerica.com.

About Shoreline Equity Partners 

Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a “win-win” proposition for shareholders, employees, customers, vendors, and the communities within which the firm’s companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. With over $750 million of committed capital under management, Shoreline seeks to lead equity investments of up to $150 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $50 million to $350 million and EBITDA of $5 million to $25 million. The firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others. For more information, please visit www.shorelineequitypartners.com.​​​​​​​​​​​​​​

About Trivest

Trivest Partners, headquartered in Miami, with offices in Charlotte, Chicago, Denver, Los Angeles, New York, and Toronto, is a private investment firm that focuses exclusively on the support and growth of founder-led family-owned businesses in the U.S. and Canada, in both control and non-control transactions.  Learn more at www.trivest.com.

About AEA Investors

AEA Investors (“AEA”) was founded in 1968 by the Rockefeller, Mellon, and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets.  AEA has an extraordinary global network built over many years which includes leading industrial families, business executives, and leaders, many of whom invest with AEA as active individual investors, join its portfolio company boards, or act in other advisory roles.  Today, AEA’s over 120 investment professionals operate globally with offices in New York, Stamford, Jacksonville, San Francisco, London, Munich, and Shanghai.  The firm manages funds that have approximately $18 billion of invested and committed capital including the leveraged buyouts of middle market and small business companies, growth equity, and private debt investments.  For more information, visit www.aeainvestors.com.

About BCI

British Columbia Investment Management Corporation (“BCI”) is one of Canada’s largest institutional investors, with C$295 billion in gross assets under management as of March 31, 2025.  For 25 years, BCI has built its legacy on performance with purpose, helping its 32 public sector and institutional clients deliver on their commitments.  From securing pensions to supporting communities, it’s investing that matters.

Headquartered in Victoria, British Columbia, and with teams spanning Vancouver, New York, London, and Mumbai, BCI puts patient capital to work across public and private markets globally.

Learn more on BCI.ca or connect on Linkedin.

Forward-Looking Statements

Certain statements in this press release, including those regarding future growth, strategy, and performance, may be considered “forward-looking statements.”  These are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially.  Shoreline Equity Partners undertakes no obligation to update or revise any forward-looking statements, except as required by law.