cleaning services

Soundcore Adds-on to SCA

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Sweeping Corporation of America, a portfolio company of Soundcore Capital Partners, has acquired Sky Sweeping LLC.

Sky Sweeping is a provider of parking lot, street and industrial sweeping as well as other ancillary services such as parking garage cleaning, special event clean-up, and porter services. Jeff Zucal founded Sky Sweeping (named after his daughter Skyler) in 2002 with one truck and one account. Through internal growth and acquisitions the company has grown to a fleet of trucks that sweep more than 3,500 parking lots a month that are located in Ohio, western Pennsylvania and southeastern Indiana. Sky Sweeping is headquartered in Louisville (www.skysweeping.com).

Soundcore acquired Sweeping Corporation of America (SCA), one of the largest independent power sweeping companies in the United States in March 2017. As part of this transaction, Soundcore also acquired SCA’s sister company, Sani-Tech JetVac.

Sweeping Corporation of America provides street, parking lot and construction site sweeping, catch basin cleaning and several ancillary services including pavement maintenance and snow management. Customers include state, municipal, commercial, industrial and residential customers throughout the Southeast region of the US. The company services over 25,000 miles of roadways and parking lots each month across the states of Tennessee, Alabama, Georgia, North Carolina, Kentucky, Arkansas, Mississippi, and Louisiana. SCA is led by CEO Chris Valerian and is headquartered in Cleveland (www.sweepingcorp.com).

Sani-Tech JetVac Services, SCA’s sister company, provides storm and wastewater services, including pipeline clearing, cleaning, vacuuming and video inspection, to customer throughout the Southeast region of the US. The company, founded in 2000, has 25 employees and is also based in Nashville (www.sani-techservices.com).

“Situated in central Ohio, and in close proximity to SCA’s new headquarters in Cleveland, Sky Sweeping is a strategic initiative for the SCA platform,” said Soundcore Capital’s Head of Deal Origination and Principal, Erik Emmett. “As a new market-entry, this acquisition aligns with our thesis and buy-and-build approach of creating a national footprint through expansion into major metropolitan areas throughout the United States.”

Soundcore 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).

The buy of Sky Sweeping is the second add-on acquisition to the SCA platform (including the acquisition of its sister company) and Soundcore’s fourth overall acquisition (one platform and three add-ons) in 2017.

© 2017 Private Equity Professional | April 13, 2017

Serruya Acquires Sani-Service

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Toronto-based Serruya Private Equity has acquired Sani-Service from Swisher Hygiene, a publicly traded provider of hygiene services.

Sani-Service is a commercial hygiene and chemical services provider with regional operations in the Canadian provinces of Ontario, British Columbia and Alberta. The company provides cleaning services and products such as soaps and sanitizers to the foodservice, hospitality, retail, healthcare and education markets.  The company is headquartered near Toronto in Markham, ON (www.sani-service.ca).

“We are excited about this opportunity to foster the growth of a great Canadian service company. We see many opportunities to grow both organically and by leveraging Sani-Service as a platform to make additional acquisitions,” said Michael Serruya, Managing Director of Serruya Private Equity.

Serruya Private Equity (SPE) invests in companies that have strong brand names and that operate in the consumer products, restaurant, hotel, and financial services sectors.  SPE is headquartered in Markham, ON (www.serruyaequity.com).

The Serruya family acquired its wealth through the actions of brothers Aaron, Michael and Simon Serruya who founded the frozen yogurt chain Yogen Früz in 1986.  The brothers also built Coolbrands International, a consumer packaged goods conglomerate, into the third largest frozen dessert manufacturer in North America after Unilever and Nestle.

Swisher Hygiene (NASDAQ: SWSH) is a provider of hygiene services and is headquartered in Charlotte (www.swsh.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 8-17-15