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HighBank advises Reilly Sweeping on its sale to Sweeping Corporation of America

August 17, 2017

HighBank Advisors ("HighBank"), a Baltimore, Maryland-based mid-market investment bank, announces that it was the exclusive financial advisor to Reilly Sweeping, Inc. (“Reilly Sweeping”) on its acquisition by Sweeping Corporation of America, Inc. ("SCA"). Terms of the transaction were not disclosed.

Reilly Sweeping, based in Fairless Hills, Pennsylvania, provides power sweeping services to states and municipalities and parking lot sweeping services to private retail centers across Pennsylvania, New Jersey, Delaware, Maryland, Virginia, Washington, D.C. and Ohio. Reilly Sweeping is a 42-year old firm that has grown organically to become the premier provider of sweeping services across its market area.

SCA was founded in 1988 and is based in Nashville, Tennessee. It has grown from a single street sweeper to the largest provider of sweeping services across Kentucky, Tennessee, North Carolina, Georgia, Alabama, Mississippi, Louisiana and Arkansas.

SCA’s primary investor is Soundcore Capital Partners ("Soundcore"), a New York-based private equity firm that specializes in control investments in lower middle market firms in the United States and Canada. Soundcore has acquired 17 companies since it was founded in 2015.

Patrick Reilly, President of Reilly Sweeping, commented, “Reilly Sweeping is thrilled to join SCA and to be a part of its growth plans. Both companies have a focus on personalized, responsive service to customers. Our combined resources will only enhance our ability to serve our customers of all sizes.”

Christopher Valerian, Chief Executive Officer of SCA, added, "The acquisition of Reilly Sweeping is a big step for SCA in establishing the United States’ biggest and most modern provider of sweeping services to public and private customers."

“We have known and worked with HighBank for several years and their dedication, professionalism and business acumen are top notch. They guided us through the transaction on an expedited timeline and their investment banking and negotiating skills led to a result which exceeded our expectations,” Patrick Reilly added.

Stephen Gaines, Managing Director at HighBank, stated, “We are pleased to have served Reilly Sweeping and to have worked with Patrick, Michael and Sean Reilly on this transaction, which is a culmination of their decades of entrepreneurship and hard work.”

Reilly Sweeping was represented by Fox Rothschild of Philadelphia, Pennsylvania.

About Reilly Sweeping, Inc.

Reilly Sweeping, based in Fairless Hills, Pennsylvania, is a premier regional street power sweeping contractor that serves states and municipalities, as well as retail, industrial, construction and other commercial clients, across the Mid-Atlantic region. Reilly Sweeping is a team of experts that provides unsurpassed quality and customized programs to fit its clients’ needs. For more information, visit www.reillysweeping.com.

About Sweeping Corporation of America

Sweeping Corporation of America, based in Nashville, Tennessee, is a premier power sweeping company that offers custom service programs across the Southeast. Sweeping Corporation of America combines industry experts, state-of-the-art vehicles and equipment, and the latest technology, in order to serve its customers efficiently and dependably. For more information, visit www.sweepingcorp.com.

About HighBank Advisors LLC

HighBank is a full service mid-market investment bank and financial advisory firm. Headquartered in Baltimore, Maryland with a regional office in Philadelphia, Pennsylvania, the firm provides advice on mergers and acquisitions, raising capital, exit and transaction planning, business valuations, fairness and capital adequacy opinions, loan workouts and debt restructurings, and distressed asset sales. HighBank was formed on a mission that our clients and our people deserve to have their highest expectations met and to receive higher value for their investments of money and time. For more information, visit www.highbankadvisors.com.

All investment banking services are provided by HighBank Securities LLC (“HBS”), a registered broker-dealer and member of FINRA and SIPC. HBS is a wholly-owned subsidiary of HighBank Advisors.