The Pave

Silverman Capital is pleased to present PAVE, a commercial paving and asphalt maintenance platform acquiring founder-run paving and concrete contractors across the Sunbelt. We acquire profitable businesses with $3M to $20M in EBITDA, established crews and equipment, and multi-decade customer relationships, then integrate them under one operating platform and build toward institutional scale.

The thesis sits on two structural facts. First, the work is non-optional. Asphalt fails on a schedule, and every parking lot, distribution yard, private road, and municipal surface needs sealing, striping, patching, and full resurfacing every seven to ten years, in good economies and bad. Second, the industry is deeply fragmented and its owners are retiring. These are companies built over twenty and thirty years by founders now in their sixties, with real earnings and no succession plan, and the qualified buyer pool at this size is thin. We buy them at low single-digit EBITDA multiples while consolidated paving platforms transact at 8 to 13x. Scale, systems, diversified geography, and a professional back office are what move a collection of contractors into that range. We convert that entry advantage into current cash flow today and multiple expansion as the platform grows.