Global private equity player Warburg Pincus has agreed to buy Sweeping Corp of America, the largest power sweeping company in the US, from Soundcore Capital Partners.
The buyout comes three years after Soundcore picked up the business as its third platform deal.
Sweeping Corp provides street and highway sweeping, parking lot sweeping and jet vac services across the eastern half of the US.
Customers served include municipalities, state departments of transportation, commercial, infrastructure and construction clients.
Warburg managing director Stephanie Geveda said, “As a clear market leader with a proven acquisition platform within the street sweeping industry, SCA is a strong fit for our portfolio, and we believe there is a significant opportunity to retain and further grow its market leading position.
“Our investment demonstrates Warburg Pincus’ ongoing commitment to backing leading companies that provide mission critical services and are positioned to capitalize on an underpenetrated market opportunity.
“We believe there is significant opportunity for growth within the outsourced services sector.”
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