The Tendit Group, a Denver based provider of exterior facility maintenance services, has acquired Precision Asphalt Maintenance, an asphalt services company based in Layton. The acquisition is Tendit’s second in Utah following last year’s purchase of Salt Lake City-based Birrell Services.
The Tendit Group is a portfolio company of Osceola Capital, a Tampa-based private equity firm.
Founded in 2005, Precision Asphalt Maintenance provides a number of asphalt services, including paving, maintenance, repairs, seal coating, slurry sealing, excavation and grading. With this acquisition, Tendit Group expands its services in the West and establishes itself in the region’s construction and infrastructure development sector.
Sam Pope, vice president of mergers and acquisitions at The Tendit Group, said, “We are thrilled to welcome Precision Asphalt Maintenance (PAM) to The Tendit Group. The acquisition of PAM bolsters our footprint in Salt Lake City and expands Tendit’s self-perform capabilities to include asphalt maintenance and materials hauling. PAM is highly complementary to our existing service offering and will greatly benefit our customers. We look forward to supporting PAM leadership as they continue their impressive growth trajectory.”
“The acquisition of PAM furthers Tendit’s strategy of offering each of our core services in every geography the company operates. We look forward to expanding Tendit’s reach and providing more and better services to our customers.” said Patrick Watkins, partner at Osceola Capital.