Code Hennessy & Simmons LLC Announces Divestiture of the Mining Services Division of American Asphalt & Grading Company
Chicago – Code Hennessy & Simmons LLC (“CHS“) announced it has completed the sale of the Mining Services Division of American Asphalt & Grading Company (“AAG“) to ClearLight Partners, a private equity firm based in Newport Beach, California. CHS will retain its ownership position in AAG.
Headquartered in Las Vegas, Nevada, AAG provides integrated construction services to the Southern Nevada residential homebuilding market. The company provides a suite of site development and preparation services including excavation, paving, pavement maintenance and concrete placement for curbs, gutters and sidewalks. For additional information about AAG, please visit the company’s website at www.aaandg.com.
CHS is a Chicago-based private equity firm specializing in private equity investments and recapitalizations of middle market companies in partnership with management. CHS targets well-managed companies focused on growth with enterprise values between $100 million and $1 billion. With particular expertise in the Infrastructure & Industrial Products, Business & Consumer Services, Consumer and Distribution sectors, CHS has completed 71 platform investments and 172 add-on investments. Founded in 1988, CHS has formed five private equity funds and currently manages over $2.5 billion of capital. For additional information about CHS, please refer to the firm’s website at www.chsonline.com.