Soundcore's ACI Holdings is Paving New Markets

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Aug 24, 2023, 10:19 ET

NEW YORK, Aug. 24, 2023 /PRNewswire/ -- Soundcore Capital Partners, LP ("Soundcore") a New York-based private equity firm, is pleased to announce the recent acquisition of Asphalt Solutions, Inc. ("Asphalt Solutions"), based in Indianapolis. Asphalt Solutions is a leading provider of asphalt and concrete maintenance and repair services for commercial and multi-family homeowner association customers. This acquisition represents the third investment in Soundcore's commercial paving platform, ACI Holdings Group ("ACI").

Chad McIntyre founded Asphalt Solutions over two decades ago. Since its founding, Asphalt Solutions has become a market leader for asphalt and concrete repair services within the broader Indianapolis market. Under McIntyre's leadership, Asphalt Solutions has developed a strong culture, experienced staff, and a reputation for high quality self-perform commercial paving services that include asphalt, concrete, sealcoat, crack repair, and pothole repair. McIntyre and each of his employees will remain with Asphalt Solutions post transaction.

"I am thrilled to partner with ACI and am confident that this partnership will bolster growth in our operations, provide ample opportunities for our employees, and better service our customers. It was a pleasure to work with the team at Soundcore and ACI in closing this transaction," said Chad McIntyre.

The acquisition of Asphalt Solutions is a major step forward in increasing ACI's commercial paving footprint within the Midwest. ACI, under the leadership of Soundcore, is actively exploring both organic growth and strategic acquisition opportunities. Soundcore is seeking market-leading commercial services businesses to partner with in new and existing geographies who share ACI's commitment to high quality service work for its customers.

"Soundcore is dedicated to forming partnerships and is looking to acquire commercial paving companies whose founders value partnering with an experienced investor. Soundcore can bring technology know-how, operating expertise, and other best practices, helping unlock the next stage of growth," said Alex Bues, Partner & Head of Deal Origination at Soundcore. "We are actively seeking introductions to founders who share our values and core principles."

Soundcore acquired the initial ACI investment in July 2022 and has now completed three acquisitions, expanding operations and regional footprint. In doing so, the Soundcore team has taken steps to hire talent, implement processes, and provide the enhanced tools to enable ACI to perform at its best. "We are proud of the many accomplishments made in ACI over the past year and remain bullish on the opportunity for sustained growth ahead of us," said Jonathan Tanenbaum, Partner at Soundcore.

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 85 acquisitions across eleven 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 ACI

Recognized as one of the most respected and client-focused construction companies in the industry, ACI has been influencing the landscape of commercial properties and providing world-class paving services across its markets since 1993. For more information, please visit: www.aciasphalt.com

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