NEW YORK, July 6, 2026 /PRNewswire/ — Avance Investment Management (“Avance”), a leading investment firm that partners with founder-owned businesses, today announced that it has completed a strategic investment in Lexxel (“Lexxel” or the “Company”), a provider of specialty maintenance and repair services to critical infrastructure. Lexxel’s founders and management team are reinvesting significant equity alongside Avance and will continue to lead the Company.

Lexxel is focused on the repair, restoration, and maintenance of aging infrastructure and utility assets, anchored by long-standing relationships with customers across New York and the Northeastern U.S. The Company provides carbon-fiber and composite repair, concrete restoration, protective coatings and linings, as well as complementary services including engineering and other craft-driven trades.

“Lexxel keeps critical infrastructure running, backed by a deep bench of talent and an unwavering commitment to its customers,” said David Perez, Co-Founder at Avance. “We look forward to supporting the Company and its founders as they continue to serve their home markets in the Northeast, and to bringing their same standard of quality and execution to new geographies over time.”

“We have followed the aging-infrastructure opportunity for a long time,” said Carl Stanton, Senior Advisor at Avance. “Decades of underinvestment, combined with powerful tailwinds supporting infrastructure and utility modernization, are driving sustained, long-term demand for the kind of mission-critical repair and maintenance services Lexxel provides. This is a thesis we have conviction in, and Lexxel is a terrific way to build behind it.”

“This is an exciting next chapter for Lexxel,” said Peter Tortorella, Co-Founder of Lexxel. “Avance shares our vision for what this business can become, and together we see a significant opportunity to expand the Lexxel platform — including through additional acquisitions that bring complementary capabilities and talent.”

“On behalf of the entire team, I want to thank our customers and partners for their dedication and trust,” said Michael Codi, Co-Founder of Lexxel. “Their loyalty is the foundation of everything we have built. Peter and I, alongside our team, remain fully committed to leading Lexxel and to delivering the same quality our customers count on as we grow with Avance.”

Lincoln International served as financial advisor and Greenberg Traurig served as legal counsel to Avance. Lippes Mathias served as legal counsel to Lexxel.

About Lexxel

Lexxel is a single-source provider of engineering, procurement, construction, and maintenance services for critical infrastructure. With a portfolio of capabilities spanning advanced materials, industrial services, engineering, and power and utilities, Lexxel protects and extends the life of the essential assets its public and private customers depend on. For more information, please visit lexxel.com.

About Avance Investment Management

Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the Services and Consumer areas in the U.S., seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance’s team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment through the application of its STAGE™ value creation framework. Avance has offices in New York and Miami. For more information, please visit www.avanceinv.com.

Avance Media Contact

Woomi Yun / Erik Carlson / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
212.355.4449

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SOURCE Avance Investment Management