ROCHELLE PARK, N.J., Oct 13 — 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.”
