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O2 Sponsor Finance Provides over $44 Million in Senior Secured Credit Facilities to Support Soundcore Capital Partners’ Acquisitions of ACI Asphalt & Concrete, LLC & ACS Asphalt Concrete Solutions
CHICAGO, IL / ACCESSWIRE / March 21, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it served as senior secured
About this update from Old Second Bancorp, Inc.
[{"type":"text","content":"CHICAGO, IL / ACCESSWIRE / March 21, 2023 / O2 Sponsor Finance, a division of Old Second National Bank, today announced that it 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.About ACI Asphalt and Concrete, LLC: ACI Asphalt & Concrete, LLC was founded in 1993. The company is headquartered northwest of Minneapolis in Maple Grove, Minnesota. With thousands of completed paving projects per year, ACI utilizes state-of-the-art equipment to provide the greater Minneapolis market with a one-stop solution for paving services. For more information, please visit www.aciasphalt.comAbout ACS Asphalt Concrete Solutions: ACS was founded in 2012. ACS is headquartered 15 miles north of Minneapolis in Blaine, Minnesota. ACS is a leading asphalt and concrete repair and maintenance services provider to a diversified mix of end markets throughout the Minneapolis-St. Paul and bordering regions. For more information, please visit www.acsasphalt.comAbout Soundcore Capital Par...