SLATE Partners (“SLATE”) announced that its Principals advised American Striping Company, LLC (“ASC”) on its sale to Tendit Group (“Tendit”), formerly known as Top Gun Facility Services, a Colorado-based exterior facility services provider with operations throughout the Mountain and Southwest regions of the U.S. Tendit is a portfolio company of Osceola Capital Management (“Osceola”), a Tampa-based private equity firm.
Founded in 2016 in the Denver suburb of Centennial, Colorado, American Striping Company is a leading non-union provider of essential pavement marking, striping, and related services throughout Colorado and Wyoming. With a comprehensive offering, ASC serves state departments of transportation, municipal, and commercial end customers directly and through relationships with leading general contractors to meet their vast recurring maintenance, reconstruction, and new construction needs. In just five years, ASC has grown to become the second largest pavement marking company in the Denver market and Denver’s fifth fastest growing medium sized company overall.
Natalie Asher, Managing Director of SLATE Partners, noted, “Alejandra and her team have built ASC into one of the premier pavement marking companies in Colorado in a few short years. Despite the ongoing pandemic, ASC has continued to gain market share, particularly in technical and logistically challenging striping applications. ASC’s partnership within Tendit creates tremendous opportunity for a full suite of services for their customers across the entire Tendit Group platform.”
Alejandra Harvey, CEO of ASC, remarked, “The SLATE team’s infrastructure services experience was instrumental in conveying ASC’s story and finding the right partner who could help us navigate the next phase of growth. Their hands-on approach was essential to guiding us through the M&A process under a tight timeline and resulted in a fantastic outcome. We are excited about the combined potential of the ASC and Tendit teams working together to build an even better company.”
American Striping Company received legal representation in the transaction from Sherman & Howard and Ruddy Gregory, accounting advisory from RubinBrown, and tax advisory from CliftonLarsonAllen.
