Brookfield Asset Management announced a strategic partnership with Soundcore Capital Partners and its commercial paving platform, Heartland Paving Partners. The investment is to accelerate the platform’s growth as it pursues further consolidation in the Upper Midwest market. The transaction marks Brookfield’s first investment through its private equity sponsor solutions strategy, which focuses on providing bespoke solutions to mid-market buyout sponsors seeking secondary and growth capital for high performing assets. Soundcore acquired the initial Heartland investment in July 2022 and has since completed several acquisitions, expanding operations to become a regional provider of commercial paving services. The company partners with property owners throughout the lifecycle of their parking and other paved surface assets. Financial terms of the transaction were not disclosed.
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