Mangrove Equity Partners (“Mangrove”) is pleased to announce its investment in A&R Sealcoating, Inc., a Southeast Michigan-based leading provider of pavement repair and maintenance solutions for commercial and residential customers.
Founded in 1985 by Rocky Ricelli, A&R began as a residential sealcoating business, but quickly expanded into the commercial market and added a full suite of complementary services. Today, the business has grown into the state’s largest pure pavement maintenance provider and offers asphalt sealcoating, asphalt patching, joint and crack sealing, striping, and concrete repair services to a diverse and highly recurring base of customers. Highly regarded as an expert in the industry, A&R differentiates itself from competitors by providing one-stop-shop, high-quality maintenance services combined with superior industry knowledge.
Mr. Ricelli will continue to lead A&R and remains a significant owner of the business alongside Mangrove. “I’m excited about our partnership with Mangrove and A&R’s bright future,” said Rocky. “We have tremendous opportunity to grow our maintenance operations in Michigan and beyond by investing in our team, building out our organization and expanding capacity. Mangrove’s experience helping entrepreneurs scale and grow their businesses made them a great choice. The strong cultural fit sealed the deal.”
Mangrove and A&R are seeking to invest in additional pavement repair and maintenance businesses with revenues from $2 million to $50 million.
About Mangrove Equity Partners Founded in 2006, Mangrove Equity Partners, LP is a lower-middle market investment firm based out of Tampa, Florida. Mangrove strives to deliver uncommon value to its partners, including business owners, management teams, employees and the intermediaries who help bring them together. The Mangrove team draws on their genuine and deep operational experience, extensive investment history, respect for people and culture and commitment to doing the right thing to help create positive outcomes for everyone involved.
Mangrove pursues investments in a broad range of industries, with a particular emphasis and past success in niche manufacturing, industrial and business-to-business services and enthusiast consumer products. For more information, please visit www.mangroveequity.com