Soundcore Continues Paving the Upper Midwest

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Jan 10, 2023, 16:23 ET

NEW YORK, Jan. 10, 2023 /PRNewswire/ -- Soundcore Capital Partners, LP (Soundcore) a New York-based private equity firm, is pleased to announce the recent acquisition of ACS Asphalt Concrete Solutions (ACS), a leading provider of asphalt and concrete installation, maintenance, and repair services for commercial and multi-family homeowner association (HOA) customers, strategically located in the greater Minneapolis metropolitan area. This transaction represents the second investment in Soundcore's commercial paving platform focused on the upper Midwest.

"We are thrilled to be combining our existing paving investment with such a well-regarded company, led by a very accomplished management team. We look forward to continuing our commercial paving platform build-out as we grow both through future accretive add-ons and through strategic organic growth initiatives," said Eric Korsten, Partner of Soundcore. "ACS fits all of Soundcore's long-held investment criteria, including demonstrating steady long-term organic growth. Having acquired 77 companies since inception, Soundcore's buy-and-build and platform creation experience will help grow our commercial paving platform to its fullest potential," said Jarrett Turner, Founder and Managing Partner of Soundcore. "We aim to be the logical buyer of choice for commercial paving companies in the upper Midwest," said Alex Bues, Partner and Head of Origination of Soundcore.

"We recognize the natural evolution of the commercial paving industry and wanted ACS to merge with a growing and integrated platform, with an aligned focus on providing the highest quality service offering for customers. We believe that we will better be able to serve our valued customers through having more locations and a larger equipment fleet. Further, we expect that this transaction will create meaningful growth opportunities for our employees, who have helped us build ACS over the past decade," said Jeff Taylor, President and co-owner of ACS.

Kirkland & Ellis provided legal counsel to Soundcore. Northborne Partners provided financial advisory services to ACS.

Terms of the transaction were not disclosed.

About Soundcore

Soundcore Capital Partners was founded in 2015 by Jarrett Turner and is based in New York, NY. Soundcore is a thesis-driven private equity firm that specializes in buy-and-build investments in the lower middle-market that are headquartered in the United States and Canada. Soundcore has completed 77 acquisitions across ten platforms and focuses primarily on business & outsourced services, industrial services, specialty manufacturing and value-added distribution sectors. For more information, please visit: www.soundcorecap.com

Soundcore is actively seeking additional acquisitions. Please contact Alex Bues regarding new platforms and add-on opportunities for our existing portfolio, including commercial paving.

Alex Bues
Partner, Head of Deal Origination
[email protected]
(212) 812-1186

About ACS

Based in the Minneapolis market, ACS is a leading Upper Midwest "one-stop" provider of asphalt and concrete maintenance / repair services to commercial clients. The company is an industry-leading contractor and preferred paving company for some of the world's largest retailers and commercial companies. With thousands of projects per year, ACS takes pride in its professional team, state-of-the-art equipment and world-class service. The company has been in operation for over a decade. For more information, please visit: https://acsasphalt.com/

CONTACT:
Elizabeth Olt
[email protected]
(212)-812-1432