Heartland Paving Partners, a platform company of Soundcore Capital, has acquired Poblocki Paving Corporation.
Chicago-headquartered Heartland Paving operates as a superregional, self-performing provider of commercial asphalt and concrete maintenance services. Soundcore Capital formed the platform in August 2022 with the acquisition of ACI Asphalt & Concrete.
Poblocki Paving provides asphalt and concrete paving, maintenance, and repair services, primarily to the commercial, municipal, industrial, and residential markets in Southern Wisconsin. The company’s services include infrared patching for seamless surface repair, milling for pavement resurfacing, sealcoating to extend pavement life, striping for parking lots and roadways, and snow removal services during winter months.
The company, led by CEO Greg Kastenholz, was founded in 1968 by John Poblocki and is headquartered near Milwaukee in New Berlin, Wisconsin. Mr. Kastenholz, who grew up down the street from Mr. Poblocki and began working for him in high school, rose through the ranks over nearly 40 years before becoming president in 2017 when the company became employee-owned through an Employee Stock Ownership Plan.
“Joining Heartland Paving Partners represents an extraordinary opportunity for Poblocki,” said Mr. Kastenholz. “This partnership strengthens our foundation, expands our capabilities, and solidifies a future of growth and stability. I am incredibly proud of our dedicated employees who have positioned us perfectly for this moment and confident in the shared success that lies ahead.”
Including the buy of Poblocki Paving, Heartland has closed eight acquisitions to expand across the Midwest and Northeast. The seven earlier buys were, including the earlier mentioned ACI Asphalt & Concrete, Indianapolis-based Asphalt Solutions in June 2024; Columbus-based ProCru in July 2024; Akron-based S&K Asphalt and Concrete in April 2024; Cincinnati-based Klekamp & Company in May 2024; Chicagoland-based Professional Paving and Concrete in July 2024; and New Jersey-based Garden State Pavement Solutions in January 2025.
“At Heartland, we pave the way by creating connections and fostering community growth. Welcoming Poblocki Paving to our family of paving partners marks an exciting milestone in our continued journey,” said Alex Demos, Interim CEO of Heartland Paving Partners. “Poblocki’s exceptional local expertise, proven operational excellence, and aligned values enhance our collective ability to set new standards in pavement solutions across the Midwest, benefiting our employees and customers alike.”
New York City-headquartered Soundcore specializes in North America-based buy-and-build investments in the lower middle market. Target companies typically have EBITDA from $2 million to $14 million and are active in business and outsourced services, industrial services, specialty manufacturing, and value-added distribution sectors. Soundcore was founded in 2015 and has completed 97 acquisitions across 11 platforms.
Heartland Paving and Soundcore are actively seeking additional acquisitions to expand their geographic footprint and service capabilities.
© 2025 Private Equity Professional | May 9, 2025
