Soundcore Capital Partners Analysis

Acquire and integrate specialty manufacturing firms to build platform capabilities; Invest in value-added distribution networks to expand market reach; Support founder-led companies in scaling operations through strategic acquisitions; Develop scalable platforms from add-on businesses; Expand industrial services offerings through targeted sector investments

Soundcore Capital Partners is a buy-and-build private equity firm that primarily focuses on making control equity investments in founder-owned and -led companies within the North American lower middle market. Their investment strategy targets specific sectors, including Industrial Services, Business and Outsourced Services, Specialty Manufacturing, and Value-Added Distribution. The firm typically invests in companies that are poised for growth and can benefit from operational improvements and strategic guidance.

Soundcore Capital Partners primarily invests in the North American lower middle market.

1. Aci Asphalt & Concrete: This company offers a range of services including paving, grading, excavating, patching, crack sealing, asphalt emulsion seal coating, and consulting.

Soundcore Capital Partners has made several notable exits, including:

1. Roofing Corp of America

   • Exit Method: Corporate majority sale
   • Date: December 18, 2023
   • Details: Sold to FirstService. The valuation for this exit is not disclosed.

2. Sweeping Corporation of America (SCA)

   • Exit Method: Sale
   • Date: November 30, 2020
   • Details: Sold to Warburg Pincus. SCA is the largest power sweeping company in the U.S., providing services to over 400 municipalities and 4,500 customers. The financial terms of the transaction were not disclosed.

3. American Restoration Operations LLC

   • Exit Method: Strategic sale
   • Date: Recent (exact date not specified)
   • Details: Sold to Morgan Stanley Capital Partners. Soundcore's investment began in May 2019, during which they oversaw eight acquisitions, expanding the company's footprint to 20 locations across 10 states. Financial terms were not disclosed.

The management team of Soundcore Capital Partners includes the following members and their positions:

• Jarrett Turner: Founder & Managing Partner
• Jonathan Tanenbaum: Partner - Investment
• Jeff Long: Partner - Growth and Performance Improvement
• Alex Bues: Partner, Head of Deal Origination
• Art Zuckerman: Partner - COO, CFO & CCO
• Sam Kohistani: Vice President - Investment
• Josh Garfunkel: Senior Associate - Investment
• Sam Greer: Senior Associate, Controller
• Elizabeth Olt: Senior Associate - Investor Relations
• Vijay Chinnam: Associate - Investment
• Matt DelBello: Associate - Origination
• Nate Reilly: Associate - Origination

Completed 105 acquisitions; $1.6 billion in enterprise value acquired; $1.6 billion in TEV from six platform exits; $928 million in assets under management as of June 2023; First institutional capital in 96% of acquisitions; Average ownership period of 5.0 years; 12 platform companies created; 85 add-on acquisitions