Briarcliff Manor, New York – June 25, 2019 – Saw Mill Capital Partners II, LP and affiliated private equity investment funds managed by Saw Mill Capital LLC (“Saw Mill”), today announced the majority recapitalization of Let’s Pave, LLC (“Let’s Pave”), in partnership with management, who will retain significant ownership and continue to lead the business going forward. Based in Oak Brook, Illinois, Let’s Pave is a leading national provider of outsourced parking lot maintenance and repair services to multi-location commercial property owners. The Company provides best-in-class service and rapid response to its customers’ asphalt and concrete parking lot needs across the country through a proprietary network of preferred, local paving partners. Through its technical knowledge and expertise in procurement, project management and quality control, Let’s Pave drives significant long-term savings for property owners by proactively managing their parking lot maintenance programs. The terms of the transaction have not been disclosed. This is the fifth investment in Saw Mill’s most recent private equity fund.
C.B. Kuzlik, President, CEO and Founder of Let’s Pave, commented, “Our partnership with Saw Mill Capital represents a great step forward for Let’s Pave. The Saw Mill team brings significant facilities maintenance expertise, actionable strategic account relationships, and a strong suite of research, technology and resources to support Let’s Pave’s continued growth. We are excited to find a partner that shares our vision and commitment to delivering the highest quality parking lot maintenance service and creating significant value for our customers.”
Tim Nelson, a Partner at Saw Mill Capital, said, “We are excited to partner with Let’s Pave to accelerate the penetration of the company’s innovative business model across the U.S. Let's Pave’s leadership team has built an impressive organization and extensive network of local paving partners over a short period, and we look forward to partnering with the company in realizing its growth potential.”
ABOUT Let’s pave
Let’s Pave, headquartered in Oak Brook, IL, is a leading national provider of outsourced parking lot maintenance and repair services to multi-location property owners through a network of preferred, local paving partners. To learn more visit https://www.letspave.com.
ABOUT SAW MILL CAPITAL
Based in Briarcliff Manor, New York, Saw Mill Capital is a private equity firm that acquires industrial and commercial service, specialty distribution and manufacturing businesses with enterprise values of $25 million to $200 million. Since 1997, Saw Mill Capital has been partnering with management teams to help successful businesses reach their full potential.