Transaction expands Southern Paving & Milling’s presence in the Carolinas and strengthens its commercial paving and pavement maintenance capabilities

FORT MYERS, Fla., Oct. 20, 2026 /PRNewswire/ — Southern Paving & Milling (SPM), a full-service paving company specializing in asphalt paving, milling, concrete, striping and pavement maintenance solutions, today announced it has acquired Carolina Site, a leading commercial paving and pavement maintenance provider serving customers throughout the Carolinas. The transaction closed in September 2026.

Founded in 1996, Carolina Site provides asphalt paving, concrete, sitework, milling, striping, and maintenance services to institutional and regional property owners, managers and commercial customers throughout the Carolinas. The company has built a strong reputation for quality work, exceptional customer service and long-standing client relationships, generating a high level of repeat business across private-sector end markets.

The acquisition strengthens SPM’s presence throughout the Southeast, with operations across Florida, Georgia and the Carolinas. Together, the companies bring expanded capabilities, nearly 200 team members and greater capacity to serve public- and private-sector clients across the region.

“We have experienced significant growth over the past year, and Carolina Site is an outstanding strategic fit for Southern Paving & Milling as we continue expanding throughout the Southeast,” said Alex DeMarco, Co-President of Southern Paving & Milling. “Craig and his team have built a highly respected business with deep customer relationships and an experienced workforce. By combining our capabilities, geographic reach and shared commitment to customer service, we are better positioned for our next phase of growth while continuing to deliver the high level of service our customers expect.”

Craig Gannaway, president of Carolina Site, will join SPM’s executive leadership team as Co-President and will remain a key and meaningful shareholder in the combined business, helping drive growth initiatives, maintain customer relationships, and identify and execute future M&A opportunities across the Southeast region.

“This transaction represents an exciting next chapter for Carolina Site,” Gannaway said. “Our success has always been built on strong customer relationships, and many of those customers are expanding into new markets across the Southeast. Joining Southern Paving & Milling allows us to grow alongside them, providing the same high level of service while offering broader geographic reach and additional capabilities.”

Since partnering with 5th Century Partners in 2025, SPM has pursued a disciplined growth strategy focused on expansion throughout the Southeast. The acquisition of Carolina Site represents an important milestone in that strategy and further enhances SPM’s ability to provide comprehensive pavement solutions.

DLA Piper served as legal counsel to SPM. Avante Capital Partners provided debt financing to support the Carolina Site transaction. Terms of the transaction were not disclosed.

About Southern Paving & Milling
Founded in 2011 and headquartered in Fort Myers, Florida, Southern Paving & Milling is a full-service pavement services company. The company provides a comprehensive range of services, including asphalt paving, milling, concrete construction & repairs, pavement markings & signage, and pavement maintenance. SPM serves a diversified customer base across both public and private sectors, including departments of transportation, municipalities, commercial and industrial properties, homeowners’ associations, construction firms, and other institutional customers.

About Carolina Site
Founded in 1996 and based in Charlotte, North Carolina, Carolina Site is a  commercial paving and pavement maintenance provider serving institutional and regional property owners, managers, and commercial customers throughout the Carolinas The company specializes in asphalt paving, concrete, sitework, milling, striping, and maintenance services, with a reputation for relationship-driven customer service, high levels of repeat business, and expertise in delivering recurring pavement solutions across private-sector end markets.

About 5th Century Partners  
5th Century Partners is a purpose-driven private investment firm that invests in lower middle-market companies within healthcare and business services that have outsized growth potential. The firm provides capital, operating expertise and strategic relationships that lead to sustainable growth, which in turn allows partner companies to realize their full potential and deliver positive outcomes to their stakeholders. Learn more at www.5cpartners.com.

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SOURCE Southern Paving & Milling