April 12, 2017 (New York) – Soundcore Capital Partners, LLC (“Soundcore” or “Soundcore Capital”), a control-oriented, New York-based private equity firm that invests in lower middle market businesses, announced today that its portfolio company Sweeping Corporation of America, Inc. (“Sweeping Corp.” or “SCA”) has completed the acquisition, in partnership with management, of Sky Sweeping, LLC (“Sky Sweeping”, “Sky” or “the Company”). Sky Sweeping is Soundcore’s second add-on acquisition to the Sweeping Corp. platform, and the firm’s fourth acquisition of 2017. Terms of the transaction were not disclosed.
Headquartered in Louisville, Ohio, Sky Sweeping is a leading provider of parking lot, street and industrial sweeping as well as several ancillary services including parking garage cleaning, special event clean-up, and porter services. Servicing over 3,500 parking lots per month, the Company brings over a decade of industry expertise, reliability, rapid response time and consistent customer satisfaction to the Ohio, western Pennsylvania and southeastern Indiana regions of the United States.
Chris Valerian, the CEO of Sweeping Corp, added, “We have been privileged to partner with the talented Sky Sweeping team over the past few months, and look forward to contributing to the future growth and continued success of the business over the years to come. Since inception, Sky Sweeping’s focus on innovation, coupled with timely, thorough and dependable service, has created a strong foundation for success. We are very excited to welcome Sky, and its customers, to Sweeping Corp.”
“Situated in central Ohio, and in close proximity to Sweeping Corp.’s new headquarters in Cleveland, Sky is a strategic initiative for the SCA platform,” said Soundcore Capital’s Head of Deal Origination and Principal, Erik Emmett. “As a new market-entry, this acquisition aligns with our thesis and buy-and-build approach of creating a national footprint through expansion into major metropolitan areas throughout the United States.”
About Sweeping Corporation of America
Sweeping Corp provides street, parking lot and construction site sweeping, catch basin cleaning and several ancillary services including pavement maintenance and snow management to state, municipal, commercial, industrial and residential customers throughout the Southeast region of the United States. Servicing over 25,000 miles of roadways and parking lots each month across the states of Tennessee, Alabama, Georgia, North Carolina, Kentucky, Arkansas, Mississippi, and Louisiana, Sweeping Corp offers reliable, consistent and thorough service from highly-trained, certified technicians using state-of-the-art equipment. For more information, please visit www.sweepingcorp.com.
About Soundcore Capital Partners
Soundcore Capital Partners, LLC (“Soundcore”) founded in 2015, is a New York City-based private investment firm specializing in control equity investments and leveraged buyouts of lower middle market North American (US or Canada) headquartered businesses. The firm partners with exceptional management teams and creates long-term value for investors through a combination of operational improvements, internal growth initiatives, and strategic acquisitions. Soundcore primarily focuses on businesses with revenues that are recurring in nature and that are in fragmented industries with multiple acquisition roll-up opportunities. The firm specializes in proprietary deal sourcing through industry relationships rather than traditional bank auction processes and investment brokers, and seeks businesses whose management team members and / or selling shareholders wish to have a meaningful ownership stake in the newly acquired enterprise. Since inception, Soundcore has acquired 16 companies. For additional information on Soundcore Capital Partners, please visit www.soundcorecap.com.