O2 Sponsor Finance, a division of Old Second National Bank, served as senior secured credit facilities administrative agent and lead arranger for over $44 million in senior secured credit facilities to support Soundcore Capital Partners' acquisitions of ACI Asphalt & Concrete, LLC ("ACI") and ACS Asphalt Concrete Solutions ("ACS").
Soundcore formed ACI Holdings Group as part of its acquisition of ACI in July 2022. Soundcore then acquired ACS through its ACI Holdings Group platform company in January 2023.
ACI is a provider of asphalt and concrete installation, maintenance and repair services to commercial parking lot and multi-family homeowner associations. ACI is an industry-leading, preferred paving company for some of the world's largest commercial, medical, retailer companies and HOA management groups in the Minneapolis-St. Paul ("MSP") and upper Wisconsin service areas.
ACS 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 & 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," said Thom Karle, Senior Vice President, O2 Sponsor Finance.
Co-lender senior financing was also provided by Old National Bank. Northstar Capital provided subordinated debt financing.