- TM Capital served as the exclusive financial advisor to Ace Asphalt of Arizona, Inc. (“Ace” or the “Company”), a portfolio company of Prophet Equity, in its sale to Sunland Asphalt & Construction, Inc. (“Sunland”), a portfolio company of Huron Capital
- With a 50+ year operating history, Ace is a leading exterior facility services platform focused on providing parking lot maintenance and repair and comprehensive site development services for paved and concrete surfaces in the rapidly-growing Southwest region
- The mission critical and predictable demand for paving repair and maintenance drives recurring aftermarket service revenue for Ace from a diverse, entrenched customer base across numerous commercial, industrial and public sector end markets
- Recapitalized by Huron Capital in January 2021, Sunland is a market-leading asphalt producer and paving solutions provider in the Southwest U.S.
- Sunland’s acquisition of Ace forms the leading infrastructure services platform in the Southwest, offering a comprehensive suite of paving solutions with operations across Arizona, New Mexico, Nevada, Texas, Oklahoma and Colorado
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From start to finish, the TM team was excellent – beginning with a virtual kick-off and expertly crafted marketing materials and ending with exceptional process management. The TM team was professional and guided our management team through every stage of the process. TM exhibited deep industry expertise and close relationships with the relevant buyer universe, driving a highly competitive process that culminated in an excellent outcome. We truly appreciate TM’s tremendous effort and look forward to continuing to build the relationship between Prophet and TM.”- Michael Hirschfeld, Principal, Prophet Equity