Advanced Pavement Group Corp., a Dubin Clark portfolio company, announces the recapitalization of Richards Paving, Inc. and Refined Products Company, Inc.
Founded in 1973 and headquartered in New Castle, DE, Richards Paving provides asphalt and concrete services to commercial, industrial, and residential customers in the Delaware Valley region. Refined Products Company, Inc., a manufacturer and supplier of hot mix asphalt, millings and other materials to paving companies, contractors, and individuals, was also included in the acquisition.
This is the newest acquisition in APG’s strategic expansion in the Northeast and Mid-Atlantic regions. APG and its companies have been providing pavement installation and maintenance services to the New York metropolitan and central New Jersey areas for more than 55 years. The addition of Richards represents the expansion of APG’s geographical reach into Delaware, South Eastern Pennsylvania and North Eastern Maryland.
“This will allow us to expand our market presence, customer base and provide an exciting future for our team,” said Richard Piendak, President of Richards Paving.
“We are proud to announce our most recent acquisition, as we continue to build our Academy Class Organization, increase our market presence, as well as service our customers over larger portions of their portfolio,” said Joe Tinney, CEO of APG. “We are particularly excited to have Richard Piendak and the rest of the team join us as we continue this exciting journey delivering advanced thinking, advanced technology, advanced commitment, and advanced performance to our customers.”
“We are excited to bring Richard and his team into the APG family,” said Michael Hompesch, Partner of Dubin Clark. “This strategic acquisition will continue to strengthen APG’s foothold in the Northeast as we continue expanding our geographic footprint.”
Advanced Pavement Group Corp., headquartered in Islip, NY, is a Dubin Clark portfolio company servicing New York, New Jersey, Connecticut, Delaware, Maryland and Pennsylvania. The Company provides asphalt, concrete, drainage, excavating and hard surface maintenance services throughout the Northeastern United States. Its wide range of services and geographical reach allows it to service a wide and diverse group of customers and markets.