PAX is a portfolio company of New State Capital Partners, a middle-market private equity firm with over a decade of experience partnering with entrepreneurial management teams. Terms of the transaction were not disclosed.

Founded in 1938, PAX said Culbertson has built a strong reputation for high-quality craftsmanship and innovative roofing and restoration solutions. 

Specializing in masonry repair, waterproofing, and roofing, Culbertson serves a range of clients, including schools, hospitals, historic landmarks and commercial buildings. 

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"Culbertson's legacy of quality craftsmanship, client-first approach, and technical expertise aligns with our core values,” said Mike Wade, CEO of PAX.

“Together, we will continue to provide exceptional restoration and roofing solutions with an ever-increasing level of service and innovation for our clients," he added.

The company stated that Culbertson’s integration into the PAX network will enhance operational capacity and strengthen expertise in handling complex restoration and roofing projects. Clients of both companies can expect a seamless transition, with no disruption to ongoing projects.

"Joining forces with PAX marks an exciting new chapter for Culbertson," said John Bourque, president of Culbertson. "For more than 85 years, we've built our reputation on quality workmanship, trusted relationships, and a deep commitment to our clients.”

New State expressed its enthusiasm for this latest acquisition. The middle market financier invested in PAX, formerly Patuxent Roofing & Contracting, Inc., in August 2023.

"With each acquisition, PAX increases its geographic range and breadth of services," said Shaun Vasavada, principal at New State. "It's exciting for us at New State to be part of PAX's growth, and we look forward to continued expansion through both organic and M&A opportunities."

For more information, visit paxservicesgroup.com.