NEW YORK, Oct. 12, 2023 - ACI Holdings Group, a prominent platform in the commercial paving industry, announced today its rebranding to Heartland Paving Partners or "Heartland." This name change marks an important chapter in the company's evolution, symbolizing Heartland's position as a premier provider of pavement services across the upper Midwest and a preferred partner to regional or local contractors looking to sell their businesses.
Heartland is a platform investment of Soundcore Capital Partners, a leading buy-and-build private equity firm known for its strategic control equity investments, primarily in founder-owned and -led companies. This name change aligns with Heartland's strategic vision and coincides with several recent developments including the appointment of Rick Barrett as Chief Executive Officer and Chad Bailey as Chief Financial Officer. These developments follow the acquisition of Asphalt Solutions Inc. in Indiana, the third acquisition for Heartland since the platform's inception in July of 2022.
Rick Barrett, Heartland's CEO, expressed his enthusiasm for the company's rebranding. "This is a positive change that brings our corporate identity in line with our strategic vision. Heartland will now become synonymous with partnership via acquiring new businesses, supporting their growth and employee development, and providing essential services to customers in regions where maintaining asphalt and concrete surfaces is particularly challenging."
Jeff Long, Operating Partner at Soundcore Capital Partners, added, "This rebranding is another step in our buy-and-build approach and adds further clarity to our overall strategy. Heartland serves as the ideal platform for our growth aspirations. We are excited about our recent momentum and remain confident about Heartland's prospects in the upper Midwest."
Heartland Paving Partners is positioned to become a leading super-regional contractor in the paving industry by providing innovative solutions, technical expertise, and quality service built over decades of experience.
About Heartland:
Heartland Paving Partners, formerly known as ACI Holdings Group, is a leading player in the paving industry, serving the upper mid-western region of the United States. Heartland is committed to delivering high-quality paving solutions, fostering partnerships with companies in the sector, and supporting growth and expansion. For more information, please visit: www.heartlandpavingpartners.com
For media inquiries, please contact:
Elizabeth Olt
eolt@soundcorecap.com
(212)-812-1432
About Soundcore:
Soundcore Capital Partners was founded in 2015 by Jarrett Turner and is based in New York, NY. Soundcore is a thesis-driven private equity firm that specializes in buy-and-build investments in the lower middle-market that are headquartered in the United States and Canada. Soundcore has completed 85 acquisitions across eleven platforms and focuses primarily on business & outsourced services, industrial services, specialty manufacturing and value-added distribution sectors. For more information, please visit: www.soundcorecap.com
Soundcore is actively seeking additional acquisitions. Please contact Alex Bues regarding new platforms and add-on opportunities for our existing portfolio, including commercial paving.
Alex Bues
Partner, Head of Deal Origination
abues@soundcorecap.com
(212) 812-1186
SOURCE Soundcore Capital Partners
