PAX Services Group Acquires Consolidated Coatings

PAX Services Group, a prominent roofing and exterior services supplier, has purchased Baltimore-based Consolidated Coatings, Inc. (or "Consolidated Coatings"). Consolidated Coatings' executive team will stay with the firm. This agreement represents PAX's continued development in the Baltimore/DC area and demonstrates its commitment to extending its services to include the full building envelope. PAX is a portfolio business of New State Capital Partners, a middle-market private equity firm with more than a decade of expertise working with entrepreneurial management teams. The terms of the purchase were not revealed.

Consolidated Coatings, founded in 1979, offers masonry restoration, concrete restoration, industrial coatings, floor coatings, external insulation and finish systems, and waterproofing solutions in the Mid-Atlantic area. Consolidated Coatings is known for its exceptional customer service and ability to complete challenging projects. Its extensive experience and good reputation in building repair and coatings complements PAX's entire building envelope restoration services. PAX's partnership with Consolidated Coatings expands its capabilities, providing both existing and potential customers with a single point of responsibility for top-tier technical building exterior services completed with the best quality craftsmanship.

“We’re thrilled to welcome Consolidated Coatings to the PAX team,” said Mike Wade, PAX CEO. “We are committed to driving innovation in the building envelope services industry. The combination of strengths between our two companies provides our clients with a comprehensive 360-degree approach to restoring the entire building envelope. This partnership ensures a streamlined experience, a single point of accountability, and unmatched quality workmanship.”

PAX, based in Millersville, MD, and operating across the Mid-Atlantic, Southeast, and Southwest, provides complete building envelope solutions to institutional, industrial, and commercial customers with large-scale facilities and vital operations. PAX provides top-tier complex roofing and exterior services, assuring the protection of people and inside building assets while protecting the complete building envelope.

“I am excited about this new chapter for Consolidated Coatings. I am confident that PAX is the perfect partner to carry forward our legacy. Their vision aligns perfectly with our values, and I believe this transition will bring new opportunities for growth and innovation,” said Mike Novak, Owner, Consolidated Coatings.

“The ability to offer complete building services is an important step in PAX’s evolution and brings us closer to establishing the Company as the country’s premium exterior services company,” said Shaun Vasavada, Principal at New State. “New State stands ready to support further growth, as PAX continues to explore additional organic and M&A opportunities.”

Source: PAX