M&A Deal Summary

Soundcore Capital Partners, Northstar Capital and Mars Equity Partners Acquire ACI Asphalt & Concrete

On August 2, 2022, private equity firm Soundcore Capital Partners, mezzanine finance firm Northstar Capital and private equity firm Mars Equity Partners acquired construction company ACI Asphalt & Concrete

Acquisition Highlights
  • This is Soundcore Capital Partners’ 2nd, Northstar Capital’s 1st and Mars Equity Partners’ 1st transaction in the Construction sector.
  • This is Soundcore Capital Partners’ 11th, Northstar Capital’s 103rd and Mars Equity Partners’ 1st transaction in the United States.
  • This is Soundcore Capital Partners’ 2nd, Northstar Capital’s 11th and Mars Equity Partners’ 1st transaction in Minnesota.

M&A Deal Summary
Date 2022-08-02
Target ACI Asphalt & Concrete
Sector Construction
Buyer(s) Soundcore Capital Partners
Northstar Capital
Mars Equity Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

ACI Asphalt & Concrete

Maple Grove, Minnesota, United States
ACI Asphalt & Concrete is a provider of asphalt and concrete maintenance/repair services to commercial clients. ACI Asphalt & Concrete is a contractor and preferred paving company for some of the world's largest retailers and commercial companies. ACI Asphalt & Concrete was founded in 1993 and is based in Maple Grove, Minnesota.

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Buyer(S) 3

Buyer

Soundcore Capital Partners

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2015
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Soundcore Capital Partners is a private investment firm focused on making control investments in lower middle-market companies headquartered in the US or Canada. The Firm looks to be an active investor/partner and seeks platform opportunities with up to $15 million of EBITDA. Target transaction situations include ownership transitions, corporate carve-outs, and leveraged buyouts. Soundcore Capital Partners was formed in 2015 and is based in New York City.

DEAL STATS #
Overall 11 of 15
Sector (Construction) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 10 of 14
State (Minnesota) 2 of 3
Country (United States) 11 of 15
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 Heartland Paving Partners

Blaine, Minnesota, United States

Heartland Paving Partners is a provider of commercial asphalt and concrete maintenance and repair services across the upper Midwest. Heartland Paving Partners is based in Blaine, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-10 ACS Asphalt Concrete Solutions

Blaine, Minnesota, United States

ACS Asphalt Concrete Solutions is a premier commercial paving contractor in the upper Midwest, providing expert quality asphalt and concrete installations in Minnesota, Wisconsin, Iowa, Illinois, Nebraska and the Dakotas. ACS Asphalt Concrete Solutions is based in Blaine, Minnesota.

Buy -
Buyer

Northstar Capital

Minneapolis, Minnesota, United States

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 1993
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Northstar Capital is a mezzanine finance firm that provides junior capital to middle-market companies operating in the value-added distribution, light manufacturing, business services, financial services, education, and specialty healthcare sectors. Northstar's typical investment size is $5 to $30 million in businesses generating sales of $20 to $300 million with an EBITDA of at least $3 million. Prospective companies have stable cash flows and sustainable margins. Investments typically have maturities of five to eight years. Northstar does not invest in start-ups, real estate development, natural resource exploration, or high technology companies. Northstar Capital was formed in 1993 and is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 108 of 109
Sector (Construction) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 43 of 43
State (Minnesota) 11 of 11
Country (United States) 103 of 104
Year (2022) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-01 Rollease Acmeda

Stamford, Connecticut, United States

Rollease Acmeda is a designer, manufacturer, and value-added distributor of components and fabrics for custom window coverings. The company is the market leader in clutch-based operating systems for roller shades and is at the forefront of the industry for innovation in motorization and child safety. Rollease Acmeda was established in 1980 and is based in Stamford, Connecticut.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-01 Integrated Cable Assembly Holdings

Nogales, Mexico

Integrated Cable Assembly Holdings is a manufacturer of wire harnesses, cable assemblies and electromechanical assemblies, offering turn-key manufacturing services through its U.S. and Mexican facilities to domestic and international customers. Integrated Cable Assembly Holdings is based in Nogales, Mexico.

Sell -
Buyer

Mars Equity Partners

Category Private Equity Firm
Size Small
Type Sector Agnostic
DESCRIPTION

Mars Equity Partners is a private equity firm focused on acquiring majority positions of growing businesses across the US. The Firm seeks companies with revenue between $5 and $100 million operating in industries with high fragmentation, major barriers to entry, recurring revenue, and repeat customers. Mars Equity Partners is based in Fremont, California.

DEAL STATS #
Overall 1 of 3
Sector (Construction) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 2
State (Minnesota) 1 of 1
Country (United States) 1 of 3
Year (2022) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-21 NewGen Energy

Loomis, California, United States

NewGen Energy is an alternative energy system provider specializes in various alternative energy systems such as solar PV, energy storage, and backup power solutions for the agricultural sectors, commercial, industrial, as well as homeowners. NewGen Energy is based in Loomis, California.

Buy -
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