Jan 11, 2023

Northborne Transaction Announcement | ACS Asphalt Concrete Solutions, Inc. Acquired by Soundcore Capital Partners, LP

MINNEAPOLIS, MN – January 11, 2023 – Northborne Partners is pleased to announce that it served as the exclusive financial advisor to ACS Asphalt Concrete Solutions, Inc. (“ACS”) in connection with the acquisition by Soundcore Capital Partners, LP (“Soundcore”).

ACS is 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. Financial terms were not disclosed.

Ben Marks, Managing Director at Northborne, commented, “The owners of ACS built a leader in the commercial paving space in the Minneapolis MSA. The business has long-standing and stable relationships with brand name commercial and large-scale multi-family HOA customers. It was a privilege to work with them to facilitate a transaction with the right strategic partner.”

Davis Graham & Stubbs served as legal counsel to ACS.

About Northborne Partners

Northborne Partners is a preeminent middle market investment banking firm focused on providing M&A advisory services to companies in the food & consumer, healthcare and industrials sectors, among others. It focuses on advising private business owners in the sale of their companies and has decades of experience sitting across the table from the most seasoned strategic and private equity buyers in the world. Northborne Partners is headquartered in Minneapolis, MN. For more information, please visit www.northborne.com.

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/

About Soundcore Capital Partners

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

Website includes transactions completed by Northborne professionals at prior firms.

Contact us to find out how Northborne can drive value and increase the probability of success of your transaction.


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