THL Partners has made a majority investment in Pave Masters, a Poway, California-based provider of pavement maintenance services. No financial terms were disclosed. Pave Masters’ existing investor Northern Lakes Capital has sold its ownership stake as part of the transaction.

Craig Weems serves as CEO of Pave Masters. Pave Masters’ local brands include JB Bostick, Eagle Paving, AMS Paving, and Weems Asphalt.

“Pave Masters’ brands have been built over decades with reputations for service, professionalism, and craftsmanship,” said Cliff Longley and Rob Spies, managing directors at THL. “We are excited to support the Pave Masters team with our expertise in scaling services businesses as we partner to build the highest quality paving maintenance provider across the Western United States.”

Baird was financial advisor to Pave Masters and Fredrikson & Byron acted as legal counsel to Pave Masters and NLC. Schwartz & Co. and Jefferies acted as financial advisors and Davis Polk & Wardwell served as legal counsel to THL.