Lexxel provides specialized services, including carbon-fiber repair, concrete restoration, and protective linings, designed to extend the lifespan of critical infrastructure. The partnership aims to capitalize on long-term demand driven by decades of underinvestment in the sector. David Perez, co-founder of Avance, noted that the firm intends to support Lexxel in scaling its quality standards into new markets.

Carl Stanton, a senior advisor at Avance, described the move as a thesis-driven play on the modernization needs of utility assets. For Lexxel’s leadership, the capital injection marks a transition toward broader growth. Co-founders Peter Tortorella and Michael Codi confirmed they will remain at the helm, with plans to pursue potential acquisitions that bring complementary technical capabilities to their existing platform. Lincoln International acted as financial advisor for the deal, while Greenberg Traurig and Lippes Mathias provided legal counsel to Avance and Lexxel, respectively.