Sweeping Corporation of America, a portfolio company of Soundcore Capital Partners since February 2017, has acquired Reilly Sweeping.
Reilly Sweeping provides parking lot and street sweeping services to municipal and business customers located across Pennsylvania, Ohio, Maryland, Washington DC, Delaware, Virginia and New Jersey. The company was founded by Gerald Reilly in 1971 and is based near Philadelphia in Fairless Hills, PA (www.reillysweeping.com).
Sweeping Corporation of America (SCA) provides street, parking lot and construction site sweeping, catch basin cleaning and several ancillary services including pavement maintenance and snow management to state, municipal, commercial, industrial and residential customers throughout the Southeast region of the US. SCA was founded in 1988 and is headquartered in Nashville (www.sweepingcorp.com).
According to SCA, Reilly Sweeping is the Mid-Atlantic region’s largest sweeping provider. “Reilly Sweeping is one of the most respected companies in our industry,” said SCA’s President and CEO Christopher Valerian. “With a majority of its operations contiguous to our existing locations, Reilly solidifies our leading position in these markets and further expands our platform for additional growth opportunities.”
With the acquisition of Reilly Sweeping, SCA now operates a fleet of 350 units through 21 locations, forming the largest independent power sweeping company in the United States. “The addition of Reilly Sweeping brings a multi-state, best-in-class company into our platform and meshes with our buy and build strategy in the power sweeping space. I am very pleased with the progress we have made in acquiring great companies with proven leadership, and look forward to continuing to scale the business,” said Feliks Zarotsky, Managing Partner of Soundcore.
The buy of Reilly Sweeping is the third add-on acquisition completed by SCA since being acquired by Soundcore. The first, Sani-Tech Jetvac Services, a sister company of SCA, was acquired in February 2017 simultaneous with the platform acquisition of SCA. Sani-Tech provides storm and wastewater services, including pipeline clearing, cleaning, vacuuming and video inspection; and the second add-on acquisition was Sky Sweeping, a Louisville-based provider of parking lot, street and industrial sweeping services in the Ohio, western Pennsylvania and southeastern Indiana regions, that was acquired in April 2017.
“Once we identified family-owned and -operated Reilly Sweeping as the next acquisition for our SCA platform, we worked closely with the Reilly brothers – Patrick, Sean and Michael – and existing management to ensure a timely, seamless transition amongst the Reilly Sweeping team and its loyal customers. We are very excited to partner with the team, and to support their continued growth and success as we actively expand our SCA reach,” said Jarrett Turner, Soundcore’s Managing Partner.
Soundcore Capital Partners invests from $2 million to $60 million of control equity in lower middle market companies that are headquartered in the US or Canada. Typical targets will have from $1 million to $10 million in EBITDA. Sectors of interest include services, specialty distribution, and valued added manufacturing. Soundcore was founded in 2015 and is based in New York (www.soundcorecap.com).
© 2017 Private Equity Professional | August 8, 2017
