Bahrain-Based Arcapita Acquires Majority Stake in US Parking Lot Firm

Arcapita Group Holdings Limited has acquired a majority equity stake concrete and asphalt paving solutions provider, C&K Paving. The acquisition comes as part of a broader expansion strategy by Arcapita that has this year seen the investment firm complete three acquisitions in the business services sector valued at $715 million, strengthening its essential business services portfolio, with companies built on resilient models and recurring revenues. Considered the leading provider of parking lot maintenance services in the US, C&K operates in the $14 billion U.S. parking lot maintenance industry, which is supported by regulatory requirements, recurring demand and limited exposure to economic cycles. The industry remains highly fragmented, offering consolidation opportunities for larger players aiming to scale and standardize services across the country. C&K’s services include asphalt and concrete maintenance, pavement markings, seal coating and other preventative solutions essential to parking lot upkeep. The company, which will continue to be led by President, Founder and CEO, Don Koch, runs a vendor-managed platform with nationwide operations and long-standing vendor relationships. Its client base spans retail, property management, grocery, and financial services, with an average tenure of eight years among its top 10 customers.