Avance Investment Management has acquired a stake in Lexxel, a Rochester, New York-based specialist in critical infrastructure maintenance and repair. The private equity firm's investment backs a company that provides carbon-fiber and composite repair, concrete restoration, protective coatings and linings, plus engineering and craft-driven trade services to essential infrastructure assets.

Co-founders Peter Tortorella and Michael Codi are rolling significant equity into the transaction and will remain at the helm, signaling confidence in the partnership. Management's reinvestment aligns incentives with Avance as the platform pursues growth in a fragmented market where aging U.S. infrastructure drives sustained demand for specialty repair capabilities.

The deal reflects continued private equity appetite for infrastructure-adjacent services with recurring revenue characteristics. Lexxel's focus on non-discretionary maintenance — rather than cyclical new construction — offers downside protection that has become increasingly attractive to sponsors navigating uncertain macro conditions. Avance's operational resources could help the company expand geographically or broaden its service suite through add-on acquisitions.

For investors, the transaction underscores a broader thesis: essential infrastructure repair is evolving into a scalable, technology-enabled services category. Lexxel's composite and carbon-fiber expertise positions it at the intersection of traditional trades and advanced materials, a combination that could command premium valuations in future exit scenarios.