O2 Sponsor Finance, a division of Old Second National Bank, served as administrative agent and lead arranger for more than $44 million in senior secured credit facilities to support Soundcore Capital Partners‘ acquisitions of ACI Asphalt & Concrete and ACS Asphalt Concrete Solutions. In addition, Old National Bank provided co-lender senior financing and Northstar Capital provided subordinated debt financing.
Soundcore formed ACI Holdings Group as part of its acquisition of ACI Asphalt & Concrete in July 2022. Soundcore then acquired ACS Asphalt Concrete Solutions through its ACI Holdings Group platform company in January.
ACI Asphalt & Concrete is a provider of asphalt and concrete installation, maintenance and repair services to commercial parking lot and multi-family homeowner associations, serving commercial, medical and retail companies as well as HOA management groups in the Minneapolis and upper Wisconsin service areas.
ACS Asphalt Concrete Solutions is also a provider of asphalt and concrete installation, maintenance and repair services for commercial and multi-family homeowner association customers in the greater Minneapolis metropolitan area.
“The combination of ACI and ACS creates the true market leader in the Minneapolis/Twin Cities area. The combination is evidence of Soundcore’s commitment to their targeted buy-and-build growth strategy in the commercial paving space,” Thom Karle, senior vice president of O2 Sponsor Finance, said.
