O2 Investment Partners (www.o2investment.com) is pleased to announce that through its commercial maintenance paving platform, Ironcore Paving (“Ironcore”), it has made an investment in and partnered with Frank A. Macchione Paving Plus (“Macchione” or the “Company”) (ineedaparkinglot.com/). Terms of the investment were not disclosed.

Macchione was founded in 1993 in Rochelle Park, New Jersey, and is currently led by second-generation owners Mike and Ann Marie Macchione. Today, Macchione is a leading provider of maintenance paving services committed to speed and best-in-class service for commercial and municipal customers across a variety of end markets. The Company primarily provides asphalt paving and milling services, while also addressing smaller-ticket needs such as sealcoating, line striping, and patching.

Macchione is the platform’s second acquisition, following Atlas Asphalt, and its first under the Ironcore brand, further strengthening its presence in the Northeast. Jared O’Connell, CEO of Ironcore, commented, “The Macchione team brings a wealth of industry knowledge and a strong reputation built over decades of premium service to customers in New Jersey and the surrounding area. We are thrilled to welcome Macchione to the Ironcore platform as we continue building a leading commercial maintenance paving company.”

The Macchione family will gain an ownership stake in Ironcore and will immediately have access to significant operational support, resources, and technology from Ironcore and its executive leadership team. Ann Marie and Mike Macchione commented, “We are extremely proud of what our family and our team have built over the years. We believe Ironcore and O2 are the right partners to help us build on that foundation and take the Company to the next level. This partnership gives us the resources to continue growing, create even more opportunities for our employees, and expand what we can offer our customers, while staying true to the quality, service, reputation, and relationships that have defined Macchione for more than 30 years. We’re excited about what we can accomplish together and what the future holds.”

Shyam Shah of O2 commented, “Partnering with Mike, Ann Marie, and the rest of the Macchione team marks a significant milestone for the Ironcore platform as the first acquisition closed under Ironcore’s new brand. Similar to Atlas Asphalt, Macchione is a dominant regional player and well-positioned for accelerated growth. We expect them to collaborate well with the broader team and significantly bolster the platform’s capabilities. We appreciate the Macchione team’s confidence in Ironcore, and we also extend our thanks to our financial partner Tree Line Capital Partners for their support in this investment.”

About Frank A. Macchione Paving Plus

Headquartered in Rochelle Park, New Jersey, Macchione primarily provides asphalt paving and milling services, while also addressing smaller-ticket needs such as sealcoating, line striping, and patching. Macchione works with commercial customers such as hospitals, restaurants, and grocery stores, while also supporting municipal and select residential customers. The Company operates across the broader Northeast but is heavily concentrated in the Tri-State area and eastern Pennsylvania, completing most of its work within an hour of its headquarters. This regional density, combined with its self-perform model, allows Macchione to respond quickly and serve customers efficiently, reinforcing its commitment to speed and dependability.

About Ironcore Paving

Headquartered in Islandia, New York, Ironcore provides a full suite of commercial paving services including asphalt paving, concrete paving, sealcoating, crack filling, line striping & marking, parking signage, drainage repair, and other maintenance programs. Ironcore is a trusted partner to large commercial and corporate firms needing reliable paving services, while also serving select residential customers. Ironcore maintains relationships with a mix of larger paving platforms and general contractors throughout the country, giving it greater flexibility to take on jobs across a broader geographic area. By largely self-performing jobs, Ironcore maintains a high level of commitment to speed, dependability, service, and job quality to clients across the Northeast and broader coastal region, serving 20+ states nationwide.

About O2 Investment Partners

O2 Investment Partners is a Midwestern-based private equity firm that seeks to acquire majority interests in lower middle market B2B services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to the creation of shareholder value. O2 invests with a view toward partnering with management to build and grow the business and take it to its next stage of development. This requires not only a clear vision and strategic plan to create shareholder value, but a close partnership and alignment of interest with management. Additional information is available at www.o2investment.com.

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