Arcapita Group Holdings Limited ("Arcapita"), the global alternative investment firm, announced today that it has acquired a majority equity stake in C&K Paving ("C&K" or the "Company"), one of the leading providers of parking lot maintenance services in the United States. The Company's President, Founder, and CEO will retain a significant minority equity stake and will continue to lead the business. Over the past 12 months, Arcapita has completed three private equity acquisitions in the business services vertical, with a combined value of $715 million, expanding its Essential Business Services portfolio and reinforcing its focus on resilient business models with predictable, recurring revenues. The US parking lot maintenance industry is a $14 billion market, underpinned by recurring demand, regulatory necessity and limited economic cyclicality. The industry is not only experiencing high growth but also remains highly fragmented, creating a strong opportunity for consolidation as larger players seek to scale and standardize services across geographies. C&K provides maintenance-focused paving solutions, including asphalt and concrete maintenance, pavement markings, seal coating and other preventative services required for the upkeep of parking lots. The Company is among the leading operators in a fragmented market, offering a scalable, vendor-managed platform with operations and long-standing vendor relationships across the country. The Company's blue-chip client base includes big box retail, property management, grocery, and financial services, among many others, with an average client tenure of eight years across its top 10 customers. Hisham Al Raee, CEO of Arcapita, said: "Businesses like C&K represent the core of our Essential Business Services approach: resilient models with recurring demand, diversified customers, and the potential to scale in fragmented markets. With Arcapita's support, C&K is positioned to grow, and continue delivering the dependable services that customers have come to rely on." Neil Carter, Managing Director of US Private Equity at Arcapita, added: "We are thrilled to partner with Don and the team at C&K. The Company's strong market position, asset-light model, and track record of consistent performance makes it an ideal fit for our portfolio. The Company has grown revenues organically every year since it was founded, which speaks to the reputation Don and team have built in the market. We see compelling opportunities to accelerate growth while preserving the high service standards for which C&K is known." Don Koch, President, Founder, & CEO at C&K Paving said: "Partnering with Arcapita marks an exciting chapter for C&K. Over the past two decades, we have built a platform defined by quality, reliability, and long-term client relationships. With Arcapita's support and expertise, we are well-positioned to continue scaling nationally, pursue strategic acquisitions, and enhance our offerings to better serve our customers. We look forward to the value this partnership will bring to our business and our clients." Raymond James acted as the exclusive financial advisor for C&K Paving.
