Cision PR Newswire
SWEEPING CORPORATION OF AMERICA CONTINUES EXPONENTIAL GROWTH WITH FOURTEEN ACQUISITIONS IN 2022
News provided bySweeping Corp of America
Jan 24, 2023, 9:00 AM ET
Acquisitions Expand SCA's nationwide footprint in California, the Carolinas, Delaware, Indiana, Maryland, and Virginia
CLEVELAND, Jan. 24, 2023 /PRNewswire/ -- Sweeping Corporation of America ("SCA" or the "Company"), the largest power sweeping company in the United States, announced another year of tremendous growth in 2022. SCA acquired fourteen sweeping service companies to expand the Company's nationwide footprint and strengthen its service offerings in key markets throughout the country.
The growth plan was fueled by eight acquisitions of best-in-class companies in California, after completing five in the state in 2021. Additional acquisitions in the Carolinas, Delaware, Indiana, Maryland, and Virginia strengthened SCA's market leading position in each state. These additions to the SCA family are strong fits due to their customer contracts, customer service reputation and market position. With these transactions, SCA grew its team to over 2000 employees in its 70+ locations.
"Our growth in 2022 is consistent with our strategy of building a nationwide presence while further enhancing our ability to provide customers with the highest quality services," said Michael Latanza, President, SCA. "Sellers have been very receptive to SCA's value proposition, and we welcome the opportunity to build upon the legacy these company owners have built. We will continue to acquire additional companies that complement our core service offerings, and we remain determined to build upon our reputation of providing the highest quality service. I would like to thank our entire team for a fantastic year, and we are excited for continued growth and accomplishments to come in 2023 and beyond."
Since its inception in 2017, SCA has acquired forty-nine companies. In 2020 Warburg Pincus, a global private equity firm, made a strategic investment in SCA to expand the Company's growth initiatives. Warburg Pincus and the SCA executive team are partnering together to accelerate SCA's growth with a focus on providing its customers with leading street sweeping services.
"2022 was a year of epic growth for SCA. We are extremely proud of what our team accomplished this year, expanding our core business segment through acquiring and integrating some of the best sweeping companies in the country," said Matt Spencer, Chief Executive Officer of SCA. "Along with our record growth, I am grateful to our dedicated and highly talented employees who operate with a 'safety first' culture."
Sweeping Corporation of America ("SCA"), based in Cleveland, OH, is the largest provider of outsourced street sweeping services in the US. The Company provides street, highway, and parking lot sweeping, as well as jet vac services to municipal governments, state Departments of Transportation ("DoT"), and commercial and industrial customers. SCA has been an active consolidator in the highly fragmented sweeping industry, completing 34 acquisitions since 2017. On November 30, 2020, Warburg Pincus completed an investment in SCA and backed the management team in its efforts to grow its market position both organically and through M&A. Since Warburg Pincus' investment, SCA has grown from 35 sites in the eastern US to more than 70 sites nationwide. For more information on SCA, please visit www.sweepingcorp.com.
Sweeping Corp of America:
Michael Latanza, President
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SOURCE Sweeping Corp of America