Livingstone, a leading international investment banking firm, is pleased to announce the successful sale of its client, American Asphalt & Grading Company (“AAG”), a portfolio company of Code Hennessy & Simmons, to Gateway City Capital Investors. No financial terms were disclosed.
AAG, headquartered in Las Vegas, Nevada, is an integrated construction services firm offering a suite of site development and preparation services including excavation, paving, pavement maintenance, and concrete placement for curbs, gutters and sidewalks. AAG is a general contractor licensed in Nevada, Arizona, California, South Dakota and Utah.
Livingstone partner David Sulaski commented, “We are proud to have teamed with American Asphalt and Code Hennessy & Simmons on this transaction. The AAG management team is to be commended for its persistence and determination to see this deal through to closing.”
This represents the 19th transaction and the 3rd in the Infrastructure sector closed by Livingstone in 2009, underscoring the firm’s ability to close transactions in challenging market environments.
