Soundcore Capital Completes Sale of Sweeping Corp.

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Dec 03, 2020, 15:21 ET

NEW YORK, Dec. 3, 2020 /PRNewswire/ -- Soundcore Capital Partners is pleased to announce it completed the sale of Sweeping Corporation of America ("SCA"), the largest power sweeping company in the United States, to Warburg Pincus on November 30, 2020.

With over 1,000 employees across its 35 locations throughout the eastern United States, serving 400+ municipalities and 4,500+ customers, SCA's key services include street and highway sweeping, parking lot sweeping, and jet vac services. Customers served include municipalities, state departments of transportation, commercial, infrastructure, and construction clients.

Soundcore created a proven acquisition platform, completing 15 acquisitions of family and founderowned companies over the course of its ownership period. The exit came after significant integration and organic growth initiatives were achieved during Soundcore's hold period. Financial terms of the transaction were not disclosed. Piper Sandler & Co. served as the financial advisor and Kirkland & Ellis LLP served as legal counsel to Sweeping Corporation of America.

About Sweeping Corporation of America
Headquartered in Cleveland, OH, Sweeping Corporation of America ("SCA") is the largest power sweeping services company in the United States. SCA self-performs power sweeping for highways, streets, industrial and commercial applications for both private and government entities. For more information on SCA, please visit www.sweepingcorp.com.

About Soundcore Capital Partners
Soundcore Capital Partners is a private equity firm focused on control equity investments in lower middle market North American headquartered businesses. Founded in 2015, Soundcore has acquired 51 companies. The firm partners with exceptional management teams and creates long-term value for investors through a combination of strategic acquisitions and organic growth initiatives. For additional information on Soundcore Capital Partners, please visit www.soundcorecap.com.

About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $56 billion in private equity assets under management. The firm's active portfolio of more than 190 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $86 billion in over 910 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.