Huron Capital began pursuing opportunities in the asphalt and paving sector two years ago, after identifying it as a fragmented industry ripe for consolidation with aging infrastructure and fundamentally strong tailwinds. On January 14, 2021, the Detroit private equity firm announced a new infrastructure services platform through its acquisition and recapitalization of Sunland Asphalt & Construction Inc., a vertically integrated, market-leading asphalt producer and paving services provider serving the rapidly growing southwestern U.S. Two months later, Sunland bought its nearest rival.
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