Soundcore Capital Partners' ACI Holdings Acquires Asphalt Solutions (Indianapolis)

Soundcore Capital Partners (via ACI Holdings) Acquires ACS Asphalt Concrete Solutions

March 24, 2023

Industrial Services

Soundcore Capital Partners, through its ACI Holdings Group platform, acquired ACS Asphalt Concrete Solutions and combined it with previously acquired ACI Asphalt & Concrete to create a larger commercial paving platform in the Minneapolis / Upper Midwest market. O2 Sponsor Finance (a division of Old Second National Bank) acted as administrative agent and lead arranger on more than $44 million of senior secured financing to support Soundcore’s acquisitions; Old National Bank and Northstar Capital provided additional financing and subordinated debt. Terms were not disclosed.

Soundcore Capital Acquires ACI Asphalt & Concrete; Northstar Capital Provides Financing

August 3, 2022

Construction

Soundcore Capital Partners formed a commercial paving platform and acquired ACI Asphalt & Concrete, Inc., a Minneapolis-area asphalt and concrete contractor. Northstar Capital provided flexible capital to help finance the transaction (with reported co-investor participation from Mars Equity Partners).

Heartland Paving Partners Acquires S&K Asphalt and Concrete

April 9, 2024

Construction

Heartland Paving Partners, a platform investment of Soundcore Capital Partners, has acquired Akron-based S&K Asphalt and Concrete, marking Heartland's fourth acquisition since its July 2022 formation. The deal expands Heartland's footprint into Ohio and adds S&K's 35+ years of asphalt and concrete paving, maintenance and repair capabilities to the platform.

Brookfield Sponsor Solutions and Soundcore Capital Partner with Heartland Paving Partners

April 4, 2024

Construction

Brookfield Asset Management, through its Brookfield Sponsor Solutions strategy, has entered a strategic partnership with Soundcore Capital Partners to provide growth/secondary capital to Soundcore's commercial paving platform, Heartland Paving Partners. The investment will accelerate Heartland's buy-and-build expansion and further consolidation across the Upper Midwest; financial terms were not disclosed.

Heartland Paving Partners Acquires Garden State Pavement Solutions

January 13, 2025

Construction

Heartland Paving Partners, a platform company backed by Soundcore Capital Partners, has acquired Garden State Pavement Solutions, a full-service asphalt and concrete pavement provider serving New Jersey and parts of eastern Pennsylvania. The deal expands Heartland's geographic footprint into New Jersey and will keep Garden State leadership in place while integrating the company into Heartland's buy-and-build strategy.

Heartland Paving Partners Acquires Professional Paving and Concrete

July 10, 2024

Construction

Heartland Paving Partners, a platform investment of Soundcore Capital Partners, has acquired Professional Paving and Concrete, a Chicagoland paving contractor founded in 1982. The deal marks Heartland's sixth acquisition and expands the platform's footprint into the Chicagoland market; Professional Paving will continue to operate under founder Alex Demos.