Finley Asphalt & Concrete Forges 2017 Expansion Plan with Regional Acquisition
MANASSAS, Va., April 18, 2017 /PRNewswire/ — Finley Asphalt & Concrete (Manassas, VA), a fifty year veteran in the Commercial Paving and Road Rehabilitation industry, recently acquired former competitor Mid-Atlantic Paving & Sealing. This strategic purchase allows Finley to maintain leadership in the market by expanding their geographic territory. Finley is now able to service areas from Baltimore, MD to Richmond, VA. The merger strengthens the company’s resources to maintain consistent work quality and availability.
Finley Asphalt was founded in Fairfax, VA with a five person paving crew in 1965 by Mr. Lonnie Finley and was taken over by sons Erick and Lewis in 1990. The brothers grew the company to over one hundred sixty employees by following their father’s example of a strong work ethic.
Today, Finley Asphalt has headquarters in Richmond and Manassas and is a major service provider of both municipal & commercial asphalt and concrete projects. From large roadway rehabilitation projects to school parking lots, Finley captured a sizable market share of the area’s paving work. “Relationships are a major part of how this company became so successful,” according to Glenn Shapiro, Vice President. “This is a competitive field and companies that consistently deliver quality work and customer service are often bidding for the same jobs. Most often, competitors become allies and occasionally they form new bonds- much the same way that we joined with Mid-Atlantic.”
The acquisition of Mid-Atlantic Paving is the first in Finley’s history. Mid-Atlantic was established by Robert B. Osburn, Jr. in 1986 and operated from the Richmond area. Mr. Osburn’s daughter Ann Kramer Stinchcomb “grew up in the business” and has become a project manager. She will continue this role with the Finley team. Ann says, “This merger brings two great companies together to provide much more for our combined list of clients… our Mid-Atlantic customers will surely benefit.”
Both companies established a firm name in the paving industry within their respective regions. Mid-Atlantic has prominent names in their list of clients, such as Community Partners of Virginia, ACS West, Delmar Development Company, Landmark Property of Virginia and Essex Bank. These customers will add to Finley’s extensive portfolio, which includes Arlington County, Prince William County Public Schools, Loudoun County Public Schools, Community Group (an Associa company) and major projects with the region’s most prominent General Contractors.
With the addition of Mid-Atlantic’s customer base and more than thirty years of industry experience, 2017 promises to increase Finley’s presence in the region. This expansion will allow them to offer new services while maintaining their core business of new construction paving projects, asphalt repair, milling, resurfacing, excavation, site preparation, drainage, concrete work and sealcoating. “The heavy construction and paving industry has always been busy,” says Lewis Finley. “And after the recent election and the renewed focus on infrastructure, we expect to significantly increase last year’s contract work. This makes the timing of the Mid-Atlantic acquisition ideal.”
Media contact: Ryan Schray – Ryan@FinleyAsphalt.com. Call: 703-201-8807
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