Add-on Acquisition • Environmental

Sweeping of America Acquires Statewide Construction Sweeping

On March 1, 2022, Sweeping of America acquired environmental company Statewide Construction Sweeping from Broadtree Partners and True West Capital Partners

Acquisition Context
  • This is Sweeping of America’s 17th transaction in the Environmental sector.
  • This is Sweeping of America’s 36th transaction in the United States.
  • This is Sweeping of America’s 9th transaction in California.

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M&A Deal Summary

Date March 1, 2022
Target Statewide Construction Sweeping
Sector Environmental
Buyer(s) Sweeping of America
Sellers(s) Broadtree Partners
True West Capital Partners
Deal Type Add-on Acquisition

Target Company

Statewide Construction Sweeping

Fremont, California, United States
Statewide Construction Sweeping is a construction sweeper in Northern California and provides regulatory required sweeping services for General Contractors (GCs) mainly involved in highway and road improvement projects. Statewide Construction Sweeping was founded in 1985 and is based in Fremont, California.
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Buyer Overview 1

Buyer

Sweeping of America

Cleveland, Ohio, United States

Category Company
Founded 1988
Sector Environmental
DESCRIPTION

Sweeping Corporation of America is a power sweeping services company in the United States. SCA self-performs power sweeping for highways, streets, industrial and commercial applications for both private and government entities. Sweeping Corporation of America was formed in 1988 and is based in Cleveland, Ohio.


Deal Context for Buyer #
Overall 36 of 42
Sector: Environmental 17 of 19
Type: Add-on Acquisition 34 of 40
State: California 9 of 11
Country: United States 36 of 42
Year: 2022 6 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Szeremi Sweeping Service

Sacramento, California, United States

Szeremi Sweeping Service provides sweeping services for construction, residential, and municipality customers. Szeremi Sweeping services are available 24 hours a day 7 days a week depending on your needs. Szeremi Sweeping Service is based in Sacramento, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-06 West Sweeping Services

United States

West Sweeping Services is a holding company created to acquire power sweeping companies that perform street, highway, construction, parking lot, and industrial power sweeping to private and government entities. West Sweeping Services is based in United States.

Buy -

Seller Profiles 2

DESCRIPTION

Broadtree Partners is a private equity firm focused on acquiring and investing in lower middle-market, US-based companies in partnership with management. The Firm does not have any stated sector preferences and seeks businesses with $5 to $75 million of revenue and $1 to $10 million of EBITDA. Broadtree Partners was formed in 2017 and is based in Charlotte, North Carolina.


Deal Context for Seller #
Overall 3 of 7
Sector: Environmental 3 of 3
Type: Add-on Acquisition 3 of 5
State: California 3 of 3
Country: United States 3 of 7
Year: 2022 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Szeremi Sweeping Service

Sacramento, California, United States

Szeremi Sweeping Service provides sweeping services for construction, residential, and municipality customers. Szeremi Sweeping services are available 24 hours a day 7 days a week depending on your needs. Szeremi Sweeping Service is based in Sacramento, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-06 West Sweeping Services

United States

West Sweeping Services is a holding company created to acquire power sweeping companies that perform street, highway, construction, parking lot, and industrial power sweeping to private and government entities. West Sweeping Services is based in United States.

Sell -
DESCRIPTION

True West Capital Partners is a private investment firm focused on lower middle-market company investments in the Western US. The Firm looks to commit $5 to $25 million into profitable businesses to support acquisitions, growth initiatives, buyouts, recapitalizations, and refinancings. True West does not have any sector preferences, but does avoid real estate, startups and project financings. True West Capital Partners was formed in 2009 and is headquartered in Los Angeles, California.


Deal Context for Seller #
Overall 5 of 7
Sector: Environmental 2 of 2
Type: Add-on Acquisition 3 of 4
State: California 3 of 3
Country: United States 5 of 7
Year: 2022 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-24 Contract Sweeping Services

Milpitas, California, United States

Contract Sweeping Services is a municipal street sweeping service provider to California's municipalities/cities and waste management companies. Contract Sweeping Services is based in Milpitas, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-05 Astech

Santa Ana, California, United States

Astech is a provider of welded honeycomb metallic aerostructures to the global aerospace and defense industry. The company designs and manufactures an innovative product line of welded honeycomb metallic aerostructures for commercial and military aircraft, missiles, and space vehicles. Astech has a strong track record of helping customers achieve their goals of creating value and competitive advantage. Astech was founded in 1947 and is based in Santa Ana, California.

Buy -