12:01 ET Pavement Preservation Group, a Portfolio Company of The Sterling Group, Completes the Acquisition of Holbrook Asphalt and Integrated Pavement Solutions

, /PRNewswire/ -- Pavement Preservation Group, Inc. ("PPG"), a portfolio company of The Sterling Group ("Sterling"), today announced the acquisition of Holbrook Asphalt, LLC ("Holbrook"), Integrated Pavement Solutions, LLC ("IPS"), and their related pavement preservation affiliates. This strategic acquisition further strengthens PPG's ability to deliver best-in-class pavement preservation solutions to customers across a broader geographic footprint. PPG provides specialized pavement preservation products and services that help DOT's, municipalities, homeowner associations, and roadway owners extend the useful life of asphalt infrastructure through proven, cost-effective solutions and best-in-class local execution. The addition of Holbrook and IPS marks PPG's third acquisition since the platform was formed in partnership with Sterling in 2024 and represents a significant step forward in building the leading national pavement preservation platform. Founded in 1999 and headquartered in St. George, Utah, Holbrook is a pavement preservation contractor serving customers across the Intermountain West, Southwest, and Southern United States. IPS manufactures and markets a differentiated suite of pavement preservation solutions, including HA5™ high-density mineral bond, designed to seal and protect asphalt surfaces from air, water, and UV exposure. These solutions meaningfully extend roadway life, reduce total lifecycle costs, and allow asset owners to extend their budgets—delivering measurable value to customers and communities alike. By combining IPS's specialized products and market expertise as well as Holbrook's value driven operating model with PPG's growing national platform, customers will benefit from expanded access to advanced preservation solutions, deeper technical expertise, and consistent service quality across more markets. The transaction also accelerates PPG's ability to deliver a broader, more comprehensive set of pavement preservation offerings—positioning the company as a trusted long-term partner for roadway owners nationwide. "The missions of IPS, Holbrook and PPG are fully aligned," said CJ Davis, President of Holbrook and IPS. "Joining PPG allows us to expand our impact, serve more customers, and continue delivering high-performance solutions that protect infrastructure and reduce long-term ownership costs. We're excited to be part of a platform that shares our commitment to quality, innovation, and delivering the best value to the customer." "We are thrilled to welcome Holbrook and IPS to the PPG family," said Darin Matson, CEO of PPG. "This acquisition expands our geographic reach and enhances our ability to deliver differentiated, high-value solutions to our customers. As we continue to scale the platform, our focus remains on pairing best-in-class operators with the resources, capabilities, and products needed to better serve customers." Sterling has a long history of partnering with entrepreneurs and management teams to build market-leading businesses. Through continued organic growth and disciplined acquisitions, Sterling and PPG intend to further scale the platform, deliver even greater value to our customers, and strengthen PPG's position as the premier national provider of pavement preservation solutions with unmatched local execution capabilities. About The Sterling GroupFounded in 1982, The Sterling Group is a private equity and private credit investment firm that targets investments in basic manufacturing, distribution, and industrial services companies. Typical enterprise values of these companies at initial formation range from $100 million to $1 billion. Sterling has sponsored the buyout of 76 platform companies and numerous add-on acquisitions for a total transaction value of over $25 billion. Sterling currently has approximately $9.0 billion of assets under management. For further information, please visit www.sterling-group.com. Past performance is no guarantee of future results and all investments are subject to loss. SOURCE Pavement Preservation Group